In re BB v [2011] JLR 672 (28 July 2011)

In re BB v [2011] JLR 672 (28 July 2011)

The court held that rectification was inappropriate because the retiring trustee did not intend to exercise the power to appoint a successor, but only to retire. The defect was remedied by the court appointing new trustees, ratifying the actions of the retiring trustee, and relieving the retiring trustee from liability under the relevant statutory provisions.

Citation
[2011] JLR 672
Parties
Retiring Trustee: BB
Jurisdiction
Jersey
Judgment Date
28 July 2011
Procedural Posture
Trusts Application / Judgment
Outcome
Application granted in part
Legal Topics
Replacement of Trustees, Transfer of Trusteeship, Rectification of Defective Appointment, Court's Inherent Jurisdiction
Trusts Replacement of Trustees Transfer of Trusteeship Rectification of Defective Appointment Court's Inherent Jurisdiction

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Parties

BB

Retiring Trustee

Procedural Posture

Trusts Application / Judgment

Legal Issues

  1. 1 Whether the court should rectify a defective transfer of trusteeship where the party exercising the power to appoint a new trustee was dissolved
  2. 2 Whether the court should appoint new trustees and ratify actions taken by the retiring trustee

Ratio Decidendi

The court held that rectification was inappropriate because the retiring trustee did not intend to exercise the power to appoint a successor, but only to retire. The defect was remedied by the court appointing new trustees, ratifying the actions of the retiring trustee, and relieving the retiring trustee from liability under the relevant statutory provisions.

Court Disposition

Application granted in part

Orders

  • Court appointed new trustees
  • Court ratified the actions of the retiring trustee