Wednesday, April 23, 2014
There is an increasing number of offshore Court judgments that consider an offshore trustee’s liability to third parties and the rights of a trustee and a trust protector to an indemnity from the trust assets if there is a third party claim.
Please see the article below for a summary of recent decisions concerning trustee liability and the rights of indemnity against trust assets. Decisions concerning trustee liability include decisions by the Royal Court of Guernsey, the Supreme Court of Bermuda, and the Royal Court of Jersey. Decisions concerning the rights of indemnity against trust assets include decisions by the Isle of Man High Court and the Royal Court of Jersey.
See Mark Chudleigh, Chen Foley, Nick Miles, and Alex Potts, Round-Up of Recent Decisions Relevant to Trustee and Protector Liability and Indemnities, JD Supra, Apr. 18, 2014.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.