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Trustee L and Others -v- The Attorney General and Others [2015] SC (Bda) 41 Com (15 May 2015)

May 2015 Trusts

BERMUDA

SUPREME COURT

TRUSTS (SPECIAL PROVISIONS) ACT, 1989 – BEDDOE RELIEF – NON CHARITABLE PURPOSE TRUST – INDEMNITY – DEFENCE BY TRUSTEES

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.

 

To continue reading full articles in PDF format:
Trustee L and Others -v- The Attorney General and Others [2015] SC (Bda) 41 Com (15 May 2015)

 

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