1999/108 - Lex Trust Company [1999] UR 108 (11 June 1999)

1999/108 - Lex Trust Company [1999] UR 108 (11 June 1999)

The court found no credible evidence of duress, determined that Mr. Ostraat was estopped from opposing the order due to his prior consent, and held that the agreements were just and equitable. The court approved the orders sought by the Trustee.

Citation
[1999] UR 108
Parties
Trustee/applicant: Lex Trust Company Ltd; Settlor/beneficiary/objector: Birger Ostraat; Beneficiaries: Adult beneficiaries of the Trust; Guardian Ad Litem for Minor/unborn Beneficiaries: Advocate Martin; Respondents/interested Parties: Joint liquidators of Effex International Investment Limited
Jurisdiction
Jersey
Judgment Date
11 June 1999
Procedural Posture
Trust Representation / Application for Court Approval of Agreements
Outcome
Application granted
Legal Topics
Court Approval of Trustee Actions, Variation of Trust, Fraud and Dishonesty, Beneficiary Rights, Estoppel, Duress
Trusts Equity Court Approval of Trustee Actions Variation of Trust Fraud and Dishonesty Beneficiary Rights Estoppel Duress

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Parties

Lex Trust Company Ltd

Trustee/applicant

Birger Ostraat

Settlor/beneficiary/objector

Adult beneficiaries of the Trust

Beneficiaries

Advocate Martin

Guardian Ad Litem for Minor/unborn Beneficiaries

Joint liquidators of Effex International Investment Limited

Respondents/interested Parties

Procedural Posture

Trust Representation / Application for Court Approval of Agreements

Legal Issues

  1. 1 Whether the court should approve the execution of two agreements by the Trustee relating to the transfer and distribution of trust assets
  2. 2 Whether Mr. Ostraat is estopped from opposing the order due to prior consent
  3. 3 Whether allegations of duress by Mr. Ostraat are credible

Ratio Decidendi

The court found no credible evidence of duress, determined that Mr. Ostraat was estopped from opposing the order due to his prior consent, and held that the agreements were just and equitable. The court approved the orders sought by the Trustee.

Court Disposition

Application granted

Orders

  • Approval of the execution of the two agreements by the Trustee as set out in sub-paragraphs (a), (b), and (c) of paragraph 4 of the prayer to the representation