In the matter of the Wigwan Trust 30-Oct-2020 [2020] JRC 228 (30 October 2020)

In the matter of the Wigwan Trust 30-Oct-2020 [2020] JRC 228 (30 October 2020)

The trustee's decision to distribute 50% of the trust fund to A Limited was formed in good faith, was rational, and not vitiated by conflict of interest. The court approved the distribution, finding it aligned with the family's philanthropic objectives and, if necessary, would have found it to the benefit of minor and unborn beneficiaries in the broad sense established by case law.

Citation
[2020] JRC 228
Parties
Applicant: HSBC Trustee (CI) Limited; Beneficiary: A Limited; Beneficiaries: Z family (Mr and Mrs Z, children, grandchildren); Representative of Adult Beneficiaries: Mrs X; Beneficiaries: Minor and unborn beneficiaries
Jurisdiction
Jersey
Judgment Date
30 October 2020
Procedural Posture
Trustee Representation / Approval of Momentous Decision
Outcome
application approved
Legal Topics
Trustee Powers, Distribution of Trust Assets, Momentous Decision Approval, Benefit to Beneficiaries
Trust Law Trustee Powers Distribution of Trust Assets Momentous Decision Approval Benefit to Beneficiaries

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Parties

HSBC Trustee (CI) Limited

Applicant

A Limited

Beneficiary

Z family (Mr and Mrs Z, children, grandchildren)

Beneficiaries

Mrs X

Representative of Adult Beneficiaries

Minor and unborn beneficiaries

Beneficiaries

Procedural Posture

Trustee Representation / Approval of Momentous Decision

Legal Issues

  1. 1 Whether the trustee's decision to distribute 50% of the trust fund to A Limited should be approved by the court
  2. 2 Whether the distribution is to the benefit of minor and unborn beneficiaries

Ratio Decidendi

The trustee's decision to distribute 50% of the trust fund to A Limited was formed in good faith, was rational, and not vitiated by conflict of interest. The court approved the distribution, finding it aligned with the family's philanthropic objectives and, if necessary, would have found it to the benefit of minor and unborn beneficiaries in the broad sense established by case law.

Court Disposition

application approved

Orders

  • Court approves trustee's decision to distribute 50% of the trust fund to A Limited.
  • Orders sought by the trustee are granted.