re Garden Trust v [2003] JRC 076 (02 May 2003)

re Garden Trust v [2003] JRC 076 (02 May 2003)

Trustees should not take action regarding the trust assets at this stage due to ongoing investigations and proceedings; costs of and incidental to the Representation are to be paid out of the Garden Trust funds, subject to Court approval.

Citation
[2003] JRC 076
Parties
Representor: Continental Trust Company Limited; Respondent: Attorney General; Interested Party: Mr Brian Smyth
Jurisdiction
Jersey
Judgment Date
02 May 2003
Procedural Posture
Representation / Post Saisie Judiciare Directions and Costs
Outcome
Costs of and incidental to the Representation to be paid out of the Garden Trust funds; trustees not to take action at this stage; liberty to apply for further costs.
Legal Topics
Trustee Directions, Saisie Judiciare, Costs From Trust Fund, Money Laundering, Proceeds of Crime
Trust Law Criminal Law Asset Forfeiture Trustee Directions Saisie Judiciare Costs From Trust Fund Money Laundering Proceeds of Crime

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Parties

Continental Trust Company Limited

Representor

Attorney General

Respondent

Mr Brian Smyth

Interested Party

Procedural Posture

Representation / Post Saisie Judiciare Directions and Costs

Legal Issues

  1. 1 Whether trustees may take costs from the trust fund after saisie judiciare
  2. 2 Whether trustees should take action regarding the trust assets pending Irish proceedings
  3. 3 Effectiveness of default beneficiary provisions under Jersey law

Ratio Decidendi

Trustees should not take action regarding the trust assets at this stage due to ongoing investigations and proceedings; costs of and incidental to the Representation are to be paid out of the Garden Trust funds, subject to Court approval.

Court Disposition

Costs of and incidental to the Representation to be paid out of the Garden Trust funds; trustees not to take action at this stage; liberty to apply for further costs.

Orders

  • Viscount directed to pay reasonable costs as authorised by Greffier after tax.
  • Trustees invited to return to Court in six months if no material alteration.