Representation of the Jeep Trust [2010] JRC 075 (19 April 2010)

Representation of the Jeep Trust [2010] JRC 075 (19 April 2010)

Dinard Trustees Limited failed to fulfil its duties as trustee, endangering the trust and demonstrating a lack of capacity to execute its duties. The Court exercises its jurisdiction to remove Dinard Trustees Limited and appoint Regal Trustees Limited as trustee to ensure the competent administration of the trust.

Citation
[2010] JRC 075
Parties
Principal Beneficiary / Applicant: Mr K; Original Trustee / Proposed New Trustee: Regal Trustees Limited; Current Trustee (to Be Removed): Dinard Trustees Limited; Asset Holder: Rothschild Bank International Limited; Asset Holder: Syndicate Asset Management (CI) Limited
Jurisdiction
Jersey
Judgment Date
19 April 2010
Procedural Posture
Representation (trusts) / Application for Removal and Appointment of Trustee
Outcome
Application granted in part
Legal Topics
Removal of Trustee, Appointment of Trustee, Trust Administration, Protector Powers
Trust Law Removal of Trustee Appointment of Trustee Trust Administration Protector Powers

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Parties

Mr K

Principal Beneficiary / Applicant

Regal Trustees Limited

Original Trustee / Proposed New Trustee

Dinard Trustees Limited

Current Trustee (to Be Removed)

Rothschild Bank International Limited

Asset Holder

Syndicate Asset Management (CI) Limited

Asset Holder

Procedural Posture

Representation (trusts) / Application for Removal and Appointment of Trustee

Legal Issues

  1. 1 Whether Dinard Trustees Limited should be removed as trustee of the Jeep Trust
  2. 2 Whether Regal Trustees Limited should be re-appointed as trustee
  3. 3 Whether the Court should order payment of the trust fund to Mr K

Ratio Decidendi

Dinard Trustees Limited failed to fulfil its duties as trustee, endangering the trust and demonstrating a lack of capacity to execute its duties. The Court exercises its jurisdiction to remove Dinard Trustees Limited and appoint Regal Trustees Limited as trustee to ensure the competent administration of the trust.

Court Disposition

Application granted in part

Orders

  • Dinard Trustees Limited is removed as trustee of the Jeep Trust.
  • Regal Trustees Limited is appointed as trustee of the Jeep Trust.