Landau -v- Anburn Trustees and Ors [2007] JRC 084 (18 April 2007)

Landau -v- Anburn Trustees and Ors [2007] JRC 084 (18 April 2007)

Anburn Trustees Limited is entitled to remuneration for its services as trustee, to be calculated at the lesser of Herald or ASL's hourly rates, and is entitled to indemnity for legal costs reasonably incurred, but both trustee fees and legal costs are to be subject to assessment for reasonableness due to concerns over proportionality and neutrality.

Citation
[2007] JRC 084
Parties
Trustee: Anburn Trustees Limited; Settlor/representor: Settlor (name not specified); Beneficiary: Coralie; Beneficiary: Alan; Beneficiary: Robin
Jurisdiction
Jersey
Judgment Date
18 April 2007
Procedural Posture
Trust Law Application / Post Hearing Judgment on Trustee Remuneration and Indemnity
Outcome
Partially allowed
Legal Topics
Trustee Remuneration, Trustee Indemnity, Legal Costs Assessment, Trustee Licensing, Beneficiary Rights
Trusts and Estates Financial Regulation Trustee Remuneration Trustee Indemnity Legal Costs Assessment Trustee Licensing Beneficiary Rights

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Parties

Anburn Trustees Limited

Trustee

Settlor (name not specified)

Settlor/representor

Coralie

Beneficiary

Alan

Beneficiary

Robin

Beneficiary

Procedural Posture

Trust Law Application / Post Hearing Judgment on Trustee Remuneration and Indemnity

Legal Issues

  1. 1 Is Anburn Trustees Limited entitled to remuneration as trustee despite not being licensed?
  2. 2 Is Anburn entitled to indemnity from the trust fund for legal expenses incurred?
  3. 3 Should the trustee's remuneration and legal fees be subject to assessment for reasonableness?

Ratio Decidendi

Anburn Trustees Limited is entitled to remuneration for its services as trustee, to be calculated at the lesser of Herald or ASL's hourly rates, and is entitled to indemnity for legal costs reasonably incurred, but both trustee fees and legal costs are to be subject to assessment for reasonableness due to concerns over proportionality and neutrality.

Court Disposition

Partially allowed

Orders

  • Anburn is entitled to remuneration as trustee at the lesser hourly rate of Herald or ASL for Mr Olsen's time.
  • Anburn is entitled to indemnity for legal costs in respect of the application concerning marketing of the property on 18 January.