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In The Matter Of ABC Trusts [2015] SC (Bda) 29 Civ (10 September 2014)

September 2014 Trusts

BERMUDA

SUPREME COURT

TRUSTS – COURT’S FUNCTION IN APPROVING EXERCISE OF TRUSTEE’S DISCRETION – DOES REGARD NEED TO BE GIVEN TO WIDER SOCIAL EFFECTS OF PROPOSED SETTLEMENT

On 18 August 2014, the Judge approved a decision of the Trustees to proceed to conclude negotiations commenced some years ago with the onshore tax authorities about certain personal ‘wealth’ taxes which were potentially due from the Trusts and/or the Beneficiaries. The contested application by the Trustees for further directions in relation to the approval sought, raised legal questions which are likely to be relevant in future cases and therefore, the Judge provided reasons for the same.

 

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In The Matter Of ABC Trusts [2015] SC (Bda) 29 Civ (10 September 2014)

 

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