In re Osias Settlements v [1987] JLR 389 (19 January 1988)

In re Osias Settlements v [1987] JLR 389 (19 January 1988)

The court may exercise its discretion to permit total variation of a Jersey trust, including conversion into a foreign trust, where it is shown to be beneficial to minor, unborn, and unascertained beneficiaries and exceptional circumstances are present.

Citation
[1987] JLR 389
Parties
Applicant: Osias Settlements
Jurisdiction
Jersey
Judgment Date
19 January 1988
Procedural Posture
Trust Variation Application / Judgment
Outcome
Application for variation of trust allowed
Legal Topics
Variation of Trusts, Discretion of Court, Conversion of Jersey Trust to Foreign Trust, Beneficiaries' Interests
Trusts Variation of Trusts Discretion of Court Conversion of Jersey Trust to Foreign Trust Beneficiaries' Interests

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Parties

Osias Settlements

Applicant

Procedural Posture

Trust Variation Application / Judgment

Legal Issues

  1. 1 Whether the court has discretion to allow total variation of a Jersey trust, including conversion into a foreign trust, if beneficial to minor, unborn, and unascertained beneficiaries and exceptional circumstances are disclosed

Ratio Decidendi

The court may exercise its discretion to permit total variation of a Jersey trust, including conversion into a foreign trust, where it is shown to be beneficial to minor, unborn, and unascertained beneficiaries and exceptional circumstances are present.

Court Disposition

Application for variation of trust allowed

Orders

  • Total variation of the Jersey trust permitted, including conversion into a foreign trust, subject to the court's discretion and the demonstration of benefit to minor, unborn, and unascertained beneficiaries in exceptional circumstances.