re Channel House Trustees v [2003] JRC 098 (18 June 2003)

re Channel House Trustees v [2003] JRC 098 (18 June 2003)

The Court found that the inclusion of 'excluded person' references in the trustee remuneration clauses was a genuine mistake, that there was full and frank disclosure, and that no alternative remedy existed. Therefore, the requirements for rectification were met and the trust deeds should be rectified as requested.

Citation
[2003] JRC 098
Parties
Applicant: Channel House Trustees Limited; Original Trustee: Anburn Trustees Limited; Affiliated Company: PBO Financial Services Limited; Nominal Settlor: Rene Fredo Randon; Original Beneficiary: UNICEF; Original Beneficiary: International Red Cross; Representative of Minor/unborn Beneficiaries: Mr Scholefield; Representative of Attorney General: Mr Benest; Representative of Charitable Interest: Attorney General
Jurisdiction
Jersey
Judgment Date
18 June 2003
Procedural Posture
Application for Rectification of Trust Deeds / Judgment on Application
Outcome
application granted
Legal Topics
Rectification of Trust Deed, Trustee Remuneration, Excluded Persons, Shelf Trusts, Practice of Nominal Settlors
Trust Law Rectification of Trust Deed Trustee Remuneration Excluded Persons Shelf Trusts Practice of Nominal Settlors

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Parties

Channel House Trustees Limited

Applicant

Anburn Trustees Limited

Original Trustee

PBO Financial Services Limited

Affiliated Company

Rene Fredo Randon

Nominal Settlor

UNICEF

Original Beneficiary

International Red Cross

Original Beneficiary

Mr Scholefield

Representative of Minor/unborn Beneficiaries

Mr Benest

Representative of Attorney General

Attorney General

Representative of Charitable Interest

Procedural Posture

Application for Rectification of Trust Deeds / Judgment on Application

Legal Issues

  1. 1 Whether the trust deeds should be rectified to allow trustees to charge remuneration
  2. 2 Whether the inclusion of 'excluded person' references in remuneration clauses was a genuine mistake
  3. 3 Whether the requirements for rectification are met

Ratio Decidendi

The Court found that the inclusion of 'excluded person' references in the trustee remuneration clauses was a genuine mistake, that there was full and frank disclosure, and that no alternative remedy existed. Therefore, the requirements for rectification were met and the trust deeds should be rectified as requested.

Court Disposition

application granted

Orders

  • Rectification of each trust deed by removing the words '(other than any Excluded Person)' from Clauses 15(1), 15(2), and 16; removal of Clause 15(4); removal of the words 'subject to sub-Clause 4 hereof' in Clause 15(3).
  • In the Bluebird Trust, rectification by removing the figure '9' at Clause 1(1)(e)(ii) and inserting '7' in its place.