In re Green GLG Trust v [2002] JLR 571 (09 December 2002)

In re Green GLG Trust v [2002] JLR 571 (09 December 2002)

A trustee's appointment of capital may be void if it is unauthorized or would not have been made but for the trustee ignoring relevant matters, such as misunderstanding tax legislation due to incorrect legal advice.

Citation
[2002] JLR 571
Parties
Applicant: Green GLG Trust
Jurisdiction
Jersey
Judgment Date
09 December 2002
Procedural Posture
Trusts / Judgment
Outcome
Appointment of capital may be void.
Legal Topics
Powers and Duties of Trustees, Power of Advancement, Trustee Liability, Tax Consequences
Trusts Powers and Duties of Trustees Power of Advancement Trustee Liability Tax Consequences

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Parties

Green GLG Trust

Applicant

Procedural Posture

Trusts / Judgment

Legal Issues

  1. 1 Whether appointment of capital by trustee is void if unauthorized or made after ignoring relevant matters
  2. 2 Effect of trustee's misunderstanding of tax legislation due to incorrect legal advice

Ratio Decidendi

A trustee's appointment of capital may be void if it is unauthorized or would not have been made but for the trustee ignoring relevant matters, such as misunderstanding tax legislation due to incorrect legal advice.

Court Disposition

Appointment of capital may be void.