Representation of Virtue Trustees (Switzerland) AG and Anor re The C Trust [2018] JRC 100 (11 June 2018)

Representation of Virtue Trustees (Switzerland) AG and Anor re The C Trust [2018] JRC 100 (11 June 2018)

The Trust Instrument did not reflect the settlor's true intention, as A did not intend to exclude D, B, C, E, or their issue from benefit. The inclusion of D as protector was a genuine mistake. The Court is satisfied on the evidence that rectification is appropriate to give effect to A's intentions. The rectification is to be made as sought by the Representors. Blessing of past distributions is unnecessary as rectification is deemed to date from the creation of the Trust.

Citation
[2018] JRC 100
Parties
Applicant: Virtue Trustees (Switzerland) AG; Applicant: Vantage Capital Management AG; Respondent: B; Respondent: C; Respondent: E; Interested Party: Her Majesty's Attorney General; Guardian Ad Litem for B and C Minors: Advocate Damian Evans; Guardian Ad Litem for E Minors: Advocate Craig Swart
Jurisdiction
Jersey
Judgment Date
11 June 2018
Procedural Posture
Representation (trusts) / Judgment on Application for Rectification and Blessing
Outcome
Application granted in part
Legal Topics
Rectification of Trusts, Excluded Persons, Trustee Powers, Beneficiaries, Letters of Wishes, Capacity of Settlor
Trusts and Estates Equity Rectification of Trusts Excluded Persons Trustee Powers Beneficiaries Letters of Wishes Capacity of Settlor

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Parties

Virtue Trustees (Switzerland) AG

Applicant

Vantage Capital Management AG

Applicant

B

Respondent

C

Respondent

E

Respondent

Her Majesty's Attorney General

Interested Party

Advocate Damian Evans

Guardian Ad Litem for B and C Minors

Advocate Craig Swart

Guardian Ad Litem for E Minors

Procedural Posture

Representation (trusts) / Judgment on Application for Rectification and Blessing

Legal Issues

  1. 1 Whether the Trust Instrument should be rectified to reflect the settlor's true intention regarding excluded persons and beneficiaries
  2. 2 Whether the Court should bless past distributions made by the trustees
  3. 3 Whether the appointment of D as protector inadvertently excluded intended beneficiaries

Ratio Decidendi

The Trust Instrument did not reflect the settlor's true intention, as A did not intend to exclude D, B, C, E, or their issue from benefit. The inclusion of D as protector was a genuine mistake. The Court is satisfied on the evidence that rectification is appropriate to give effect to A's intentions. The rectification is to be made as sought by the Representors. Blessing of past distributions is unnecessary as rectification is deemed to date from the creation of the Trust.

Court Disposition

Application granted in part

Orders

  • The Trust Instrument is rectified as sought in paragraph 1 of the Representation dated 23 November 2017.
  • No order made on blessing past distributions, as rectification is deemed to date from the creation of the Trust.