Representation of Ocorian Private Trustees (Jersey) Limited and Ocorian Limited re T Trusts [2024] JRC 186 (15 September 2024)

The trustees' decision to allocate the Company B French Loans equally between C and D and to implement the 2022 Equalisation by way of the Amended Distribution Plan was formed in good faith, was reasonable, and not vitiated by conflict of interest; court blessed the decision and extended vesting dates to facilitate...

Source-derived case information.

Citation: [2024] JRC 186
Parties: Applicant: Ocorian Private Trustees (Jersey) Limited; Applicant: Ocorian Limited; Beneficiary: B; Beneficiary: C; Beneficiary: D; Beneficiary: E; Guardian Ad Litem: Advocate Renouf
Jurisdiction: Jersey
Judgment Date: 15 September 2024
Procedural Posture: Representation (trusts) / Final Blessing and Ancillary Orders
Outcome: application granted
Legal Topics: Trustee Powers, Distribution of Trust Assets, Court Blessing of Trustee Decisions, Administration Costs, Beneficiary Disputes, Vesting Date Extension

Trusts Private Client Family Law Trustee Powers Distribution of Trust Assets Court Blessing of Trustee Decisions Administration Costs Beneficiary Disputes +1 more

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Parties

Ocorian Private Trustees (Jersey) Limited

Applicant

Ocorian Limited

Applicant

Beneficiary

Advocate Renouf

Guardian Ad Litem

Procedural Posture

Representation (trusts) / Final Blessing and Ancillary Orders

Legal Issues

1 Should the court bless the trustees' decision to distribute assets and terminate the trusts?
2 How should the Company B French Loans be allocated between C and D?
3 Is further enquiry into trustees' costs prior to January 2021 warranted?

Ratio Decidendi

Court Disposition

application granted

Orders

Court blesses trustees' decision to allocate Company B French Loans 50/50 between C and D and implement Amended Distribution Plan.
Vesting dates of Vesting Trusts extended to 31 March 2025 with liberty to apply for further extension.

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