Representation of G Trustees Limited [2017] JRC 189 (09 November 2017)

Representation of G Trustees Limited [2017] JRC 189 (09 November 2017)

The trustee's decision to sell the country house at a floor price of €19 million is a rational, honest, and reasonable exercise of its powers in the circumstances, given the inability to refinance, substantial indebtedness, and imminent repayment deadlines. The court's blessing does not fetter the trustee's discretion, and beneficiary representation was adequate given the urgency and polarisation within the family.

Citation
[2017] JRC 189
Parties
Representor: G Trustees Limited; Respondent: elder son; Respondent: daughter; Respondent: younger son; Respondent: settlor
Jurisdiction
Jersey
Judgment Date
09 November 2017
Procedural Posture
Trust Representation / Application for Court Blessing of Trustee's Decision
Outcome
application granted
Legal Topics
Trustee Powers, Momentous Decisions, Jurisdiction, Beneficiary Representation, Sale of Trust Assets
Trusts Private International Law Trustee Powers Momentous Decisions Jurisdiction Beneficiary Representation Sale of Trust Assets

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Parties

G Trustees Limited

Representor

elder son

Respondent

daughter

Respondent

younger son

Respondent

settlor

Respondent

Procedural Posture

Trust Representation / Application for Court Blessing of Trustee's Decision

Legal Issues

  1. 1 Whether the trustee's decision to sell the country house should be blessed by the court
  2. 2 Whether the trustee's discretion is improperly fettered
  3. 3 Adequacy of beneficiary representation

Ratio Decidendi

The trustee's decision to sell the country house at a floor price of €19 million is a rational, honest, and reasonable exercise of its powers in the circumstances, given the inability to refinance, substantial indebtedness, and imminent repayment deadlines. The court's blessing does not fetter the trustee's discretion, and beneficiary representation was adequate given the urgency and polarisation within the family.

Court Disposition

application granted

Orders

  • The court blesses the trustee's decision to sell the country house at a price not less than €19 million.
  • The trustee remains under a duty to obtain the best price and act in beneficiaries' interests.