Representation of IFG [2007] JRC 250 (21 December 2007)

Representation of IFG [2007] JRC 250 (21 December 2007)

The sale of the Spanish property is a momentous decision within trustee powers; court approval is appropriate under established principles and statutory law. The deed of gift is valid, and trustee costs are to be indemnified from trust assets.

Citation
[2007] JRC 250
Parties
Trustee: IFG Trust (Jersey) Limited; Settlor: Mrs X; Beneficiary: La Maestranza; Beneficiary: Jersey Wildlife Preservation Trust / Durrell Wildlife Conservation Trust; Beneficiary: World Wildlife Fund
Jurisdiction
Jersey
Judgment Date
21 December 2007
Procedural Posture
Representation for Directions in Trust Administration / Final Judgment
Outcome
Relief granted; court approves sale of Spanish property and validates deed of gift
Legal Topics
Momentous Decision, Trustee Powers, Sale of Trust Property, Court Blessing, Beneficiary Changes
Trusts Private Client Property Momentous Decision Trustee Powers Sale of Trust Property Court Blessing Beneficiary Changes

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 3 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Parties

IFG Trust (Jersey) Limited

Trustee

Mrs X

Settlor

La Maestranza

Beneficiary

Jersey Wildlife Preservation Trust / Durrell Wildlife Conservation Trust

Beneficiary

World Wildlife Fund

Beneficiary

Procedural Posture

Representation for Directions in Trust Administration / Final Judgment

Legal Issues

  1. 1 Whether the sale of Spanish property is a proper exercise of trustee powers
  2. 2 Validity of deed of gift under Spanish and U.S. law
  3. 3 Indemnification of trustee costs

Ratio Decidendi

The sale of the Spanish property is a momentous decision within trustee powers; court approval is appropriate under established principles and statutory law. The deed of gift is valid, and trustee costs are to be indemnified from trust assets.

Court Disposition

Relief granted; court approves sale of Spanish property and validates deed of gift

Orders

  • Spanish property to be sold at best price on open market
  • Deed of gift declared valid