In the matter of Equity Trust (Jersey) Limited [2008] JRC 069 (28 April 2008)

In the matter of Equity Trust (Jersey) Limited [2008] JRC 069 (28 April 2008)

The court is satisfied on the evidence that the nephew is deceased, and the only continuing beneficiary is University College London Hospital. The trustee's decision to distribute the trust fund is momentous and merits court approval, which is granted.

Citation
[2008] JRC 069
Parties
Representor: Equity Trust (Jersey) Limited; Subject: Alpha Zeta Trust; Settlor: Mr Manuel de Araoz; Beneficiary (nephew): Javier de Araoz Eggermont; Beneficiary: Trustees of the Middlesex Hospital; Beneficiary (successor): University College London Hospital
Jurisdiction
Jersey
Judgment Date
28 April 2008
Procedural Posture
Representation (trust Law) / Final Judgment
Outcome
representation granted
Legal Topics
Distribution of Trust Assets, Death of Beneficiary, Court Approval of Trustee Decision
Trusts Equity Distribution of Trust Assets Death of Beneficiary Court Approval of Trustee Decision

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Parties

Equity Trust (Jersey) Limited

Representor

Alpha Zeta Trust

Subject

Mr Manuel de Araoz

Settlor

Javier de Araoz Eggermont

Beneficiary (nephew)

Trustees of the Middlesex Hospital

Beneficiary

University College London Hospital

Beneficiary (successor)

Procedural Posture

Representation (trust Law) / Final Judgment

Legal Issues

  1. 1 Whether the nephew beneficiary is deceased for trust distribution purposes
  2. 2 Whether the trustee may distribute the trust fund to University College London Hospital as successor to Middlesex Hospital
  3. 3 Whether the trustee's decision to distribute is momentous and requires court approval

Ratio Decidendi

The court is satisfied on the evidence that the nephew is deceased, and the only continuing beneficiary is University College London Hospital. The trustee's decision to distribute the trust fund is momentous and merits court approval, which is granted.

Court Disposition

representation granted

Orders

  • Authorisation for trustee to pay net assets of the trust fund to Trustees of University College London Hospital
  • Order for reasonable costs of and incidental to the representation to be paid out of trust assets