In the matter of the Representation of BBB Limited [2011] JRC 240 (28 December 2011)

In the matter of the Representation of BBB Limited [2011] JRC 240 (28 December 2011)

The class of Excluded Persons under the Trust Deed is not fixed and can change over time; persons who cease to be Excluded Persons are not permanently prohibited from benefiting under the Trust. The Third to Ninth Respondents, although once Excluded Persons, have ceased to be so and are now Beneficiaries.

Citation
[2011] JRC 240
Parties
Applicant: Representor; Respondent: First Respondent; Respondent: Second Respondent; Respondent: Third Respondent; Respondent: Fourth Respondent; Respondent: Fifth Respondent; Respondent: Sixth Respondent; Respondent: Seventh Respondent; Respondent: Eighth Respondent; Respondent: Ninth Respondent
Jurisdiction
Jersey
Judgment Date
28 December 2011
Procedural Posture
Construction Summons / Judgment
Outcome
Declaration granted
Legal Topics
Trust Construction, Beneficiaries, Excluded Persons, Interpretation of Trust Deed, Fiscal Consequences
Trusts Private Client Tax Trust Construction Beneficiaries Excluded Persons Interpretation of Trust Deed Fiscal Consequences

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Parties

Representor

Applicant

First Respondent

Respondent

Second Respondent

Respondent

Third Respondent

Respondent

Fourth Respondent

Respondent

Fifth Respondent

Respondent

Sixth Respondent

Respondent

Seventh Respondent

Respondent

Eighth Respondent

Respondent

Ninth Respondent

Respondent

Procedural Posture

Construction Summons / Judgment

Legal Issues

  1. 1 Meaning and scope of 'Beneficiaries' and 'Excluded Persons' under the Trust Deed
  2. 2 Whether persons who have been Excluded Persons are permanently prohibited from benefiting under the Trust

Ratio Decidendi

The class of Excluded Persons under the Trust Deed is not fixed and can change over time; persons who cease to be Excluded Persons are not permanently prohibited from benefiting under the Trust. The Third to Ninth Respondents, although once Excluded Persons, have ceased to be so and are now Beneficiaries.

Court Disposition

Declaration granted

Orders

  • The Third to Ninth Respondents are not currently prohibited from benefit under the Trust and are Beneficiaries.