Crociani v Crociani and Ors [2019] JRC 013 (06 February 2019)

Crociani v Crociani and Ors [2019] JRC 013 (06 February 2019)

The New Trustee is authorised and required to execute the Assignment Agreement as the pre-conditions of the court order are satisfied, Camilla has no proprietary interest in the assets following the Court of Appeal's determination, and there is no real risk of prejudice to her even if her appeal succeeds. Delay would be contrary to the interests of the trust and beneficiaries and would only benefit parties seeking to frustrate recovery.

Citation
[2019] JRC 013
Parties
Third Defendant: BNP Paribas; Fifth Defendant: Appleby Mauritius; Fifth Defendant (camilla) / Applicant to Intervene: Camilla Crociani; New Trustee / Party Cited: Ocorian; Plaintiff: Cristiana Crociani; First Defendant: Madame Crociani; Second Defendant: Second Defendant; Plaintiffs: Plaintiffs
Jurisdiction
Jersey
Judgment Date
06 February 2019
Procedural Posture
Beddoe Application / Trust Litigation / Post Trial, Approval of Settlement Steps and Assignment Agreement
Outcome
Camilla granted leave to intervene; objections dismissed; New Trustee authorised to execute Assignment Agreement; costs awarded to BNP against Camilla for the Summons; interim payment ordered.
Legal Topics
Beddoe Application, Assignment of Trust Assets, Equitable Compensation, Trustee Powers, Costs Orders
Trusts and Estates Civil Procedure Beddoe Application Assignment of Trust Assets Equitable Compensation Trustee Powers Costs Orders

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Parties

BNP Paribas

Third Defendant

Appleby Mauritius

Fifth Defendant

Camilla Crociani

Fifth Defendant (camilla) / Applicant to Intervene

Ocorian

New Trustee / Party Cited

Cristiana Crociani

Plaintiff

Madame Crociani

First Defendant

Second Defendant

Second Defendant

Plaintiffs

Plaintiffs

Procedural Posture

Beddoe Application / Trust Litigation / Post Trial, Approval of Settlement Steps and Assignment Agreement

Legal Issues

  1. 1 Whether the New Trustee should be authorised to execute the Assignment Agreement assigning trust assets to BNP
  2. 2 Whether Camilla Crociani should be granted leave to intervene and whether her objections to the Assignment Agreement have merit
  3. 3 Whether execution of the Assignment Agreement should be deferred pending appeal to the Privy Council

Ratio Decidendi

The New Trustee is authorised and required to execute the Assignment Agreement as the pre-conditions of the court order are satisfied, Camilla has no proprietary interest in the assets following the Court of Appeal's determination, and there is no real risk of prejudice to her even if her appeal succeeds. Delay would be contrary to the interests of the trust and beneficiaries and would only benefit parties seeking to frustrate recovery.

Court Disposition

Camilla granted leave to intervene; objections dismissed; New Trustee authorised to execute Assignment Agreement; costs awarded to BNP against Camilla for the Summons; interim payment ordered.

Orders

  • New Trustee authorised to execute the Assignment Agreement with BNP.
  • Camilla to pay BNP's costs of and incidental to the Summons on the standard basis.