BNP Paribas Ors v Crociani Ors [2018] JCA 136A (25 July 2018)

BNP Paribas Ors v Crociani Ors [2018] JCA 136A (25 July 2018)

Equitable compensation for breach of trust is limited to reconstituting Cristiana's trust only, not Camilla's, due to the extreme remoteness of Cristiana's interest in Camilla's trust and Camilla's acquiescence and benefit from the breach. Remedies for mistaken Crica share transfers require BNP Jersey to account for breach of bare trust, but exoneration is considered based on professional conduct and involvement.

Citation
[2018] JCA 136A
Parties
First Appellant: BNP Paribas Jersey Trust Corporation Limited; Second Appellant: Appleby Trust (Mauritius) Limited; Third Appellant: Camilla de Bourbon des Deux Siciles; First Respondent: Cristiana Crociani; Second Respondent: A (by her Guardian ad Litem); Third Respondent: B (by her Guardian ad Litem)
Jurisdiction
Jersey
Judgment Date
25 July 2018
Procedural Posture
Appeal / Judgment
Outcome
Appeals of BNP Jersey and Appleby Mauritius allowed in respect of limiting compensation to Cristiana's trust; remedies for Crica transfers affirmed with inquiry into value and consideration of exoneration.
Legal Topics
Breach of Trust, Equitable Compensation, Mistake in Trust Transfers, Remedies for Breach, Trustee Exoneration, Beneficiary Rights, Trust Reconstitution
Trusts Equity Private International Law Breach of Trust Equitable Compensation Mistake in Trust Transfers Remedies for Breach Trustee Exoneration +2 more

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Parties

BNP Paribas Jersey Trust Corporation Limited

First Appellant

Appleby Trust (Mauritius) Limited

Second Appellant

Camilla de Bourbon des Deux Siciles

Third Appellant

Cristiana Crociani

First Respondent

A (by her Guardian ad Litem)

Second Respondent

B (by her Guardian ad Litem)

Third Respondent

Procedural Posture

Appeal / Judgment

Legal Issues

  1. 1 Scope of trustee liability for breach of trust in family trusts
  2. 2 Remedies for mistaken trust transfers
  3. 3 Exoneration of trustees for breach

Ratio Decidendi

Equitable compensation for breach of trust is limited to reconstituting Cristiana's trust only, not Camilla's, due to the extreme remoteness of Cristiana's interest in Camilla's trust and Camilla's acquiescence and benefit from the breach. Remedies for mistaken Crica share transfers require BNP Jersey to account for breach of bare trust, but exoneration is considered based on professional conduct and involvement.

Court Disposition

Appeals of BNP Jersey and Appleby Mauritius allowed in respect of limiting compensation to Cristiana's trust; remedies for Crica transfers affirmed with inquiry into value and consideration of exoneration.

Orders

  • Reconstitution of Grand Trust limited to Cristiana's trust only
  • Direction that trustee not confer benefit on Camilla or her children without court sanction