WTHK and Valentin -v- UBS Trustees (Jersey) Ltd [2016] JRC 113 (01 July 2016)

WTHK and Valentin -v- UBS Trustees (Jersey) Ltd [2016] JRC 113 (01 July 2016)

The appointment of the representors as trustees was valid, taken in good faith, not irrational, and in the interests of beneficiaries; trustees are permitted to act by majority decision under Jersey law and the trust deeds.

Citation
[2016] JRC 113
Parties
Applicant: Representors; Respondent: UBS Trustees (Jersey) Ltd; Protector: Edo Romano
Jurisdiction
Jersey
Judgment Date
01 July 2016
Procedural Posture
Trust Declaration Application / Judgment
Outcome
Declarations granted; orders made for transfer of documents and costs.
Legal Topics
Appointment of Trustees, Majority Decision Making, Asset Freezing, Fiduciary Agreements
Trusts Private International Law Appointment of Trustees Majority Decision Making Asset Freezing Fiduciary Agreements

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Parties

Representors

Applicant

UBS Trustees (Jersey) Ltd

Respondent

Edo Romano

Protector

Procedural Posture

Trust Declaration Application / Judgment

Legal Issues

  1. 1 Validity of appointment of additional trustees
  2. 2 Trustee powers to act by majority
  3. 3 Implementation of trustee decisions subject to contract and law

Ratio Decidendi

The appointment of the representors as trustees was valid, taken in good faith, not irrational, and in the interests of beneficiaries; trustees are permitted to act by majority decision under Jersey law and the trust deeds.

Court Disposition

Declarations granted; orders made for transfer of documents and costs.

Orders

  • Appointments of representors as trustees on 4 January 2016 are valid and effective.
  • Trustees may act by majority decision under Jersey law and trust terms.