Crociani -v- Crociani [2017] JRC 145A (11 September 2017)

Crociani -v- Crociani [2017] JRC 145A (11 September 2017)

BNP Jersey must reconstitute the whole of Camilla's Trust fund as all beneficiaries are entitled, and Appleby Mauritius must pay the face value of the Promissory Note into Court due to its improper conduct. Receivership is not appropriate without the New Trustee's support; compensation assessment will proceed by inquiry with the New Trustee present.

Citation
[2017] JRC 145A
Parties
Defendant: BNP Jersey; Beneficiary: Camilla; Beneficiary: Madame Crociani; Beneficiary: Cristiana; Defendant: Appleby Mauritius; Claimant: Plaintiffs
Jurisdiction
Jersey
Judgment Date
11 September 2017
Procedural Posture
Trust Litigation / Post Trial Judgment and Orders
Outcome
Final judgment handed down; orders for payment into Court and further hearing for compensation assessment
Legal Topics
Breach of Trust, Equitable Compensation, Appointment of Receivers, Assessment of Compensation
Trust Law Equity Breach of Trust Equitable Compensation Appointment of Receivers Assessment of Compensation

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Parties

BNP Jersey

Defendant

Camilla

Beneficiary

Madame Crociani

Beneficiary

Cristiana

Beneficiary

Appleby Mauritius

Defendant

Plaintiffs

Claimant

Procedural Posture

Trust Litigation / Post Trial Judgment and Orders

Legal Issues

  1. 1 Whether BNP Jersey must reconstitute the whole of Camilla's Trust fund
  2. 2 Assessment of equitable compensation for breaches of trust by Appleby Mauritius
  3. 3 Appropriateness of appointing receivers over the Promissory Note

Ratio Decidendi

BNP Jersey must reconstitute the whole of Camilla's Trust fund as all beneficiaries are entitled, and Appleby Mauritius must pay the face value of the Promissory Note into Court due to its improper conduct. Receivership is not appropriate without the New Trustee's support; compensation assessment will proceed by inquiry with the New Trustee present.

Court Disposition

Final judgment handed down; orders for payment into Court and further hearing for compensation assessment

Orders

  • BNP Jersey ordered to reconstitute Camilla's Trust fund
  • Appleby Mauritius ordered to pay face value of Promissory Note into Court within 28 days