The Plaintiffs are the Trustees (the “Trustees”) of certain Bermuda Purpose Trusts (the “Trusts”) established under the Trusts (Special Provisions) Act, 1989 (the “1989 Act”). This was a ruling on the Plaintiffs’ application for Beddoe relief with respect to proceedings (the “Main Action”) brought against them by the Second Defendant (“D2”).
The application was novel in two respects: (i) so far as the Court or Counsel were aware this was the first time that Beddoe relief has been sought by the Trustees of a non-charitable purpose trust, albeit the purposes of the trusts in question did include some charitable purposes; and (ii) there has not previously been a claim made to trust assets of such high value as those with which the present case is concerned without any beneficiaries to defend the Claim.
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Trustee L and Others -v- The Attorney General and Others  SC (Bda) 41 Com (15 May 2015)