Insolvent Trusts: The Inside Track on Investec v Glenalla & Re Z Trusts, Guernsey
Please join us for our seminar, The Inside Track on Investec v Glenalla & Re Z Trusts, taking place on Wednesday 12 September.
2018 has seen two major decisions in relation to insolvent trusts, the decision of the Judicial Committee of the Privy Council in the Guernsey case of Investec –v- Glenalla and the decision of the Royal Court of Jersey in Re Z Trusts. In Glenalla, the JCPC dealt with, amongst other things, the application of Article 32 of the Trusts (Jersey) Law 1984, which limits the liability of trustees to creditors, and the rights of creditors in those circumstances.
In Re Z Trusts, the Jersey court took another step in the development of an insolvency regime for trusts and answered the vexed question of the order of priority of creditors of an insolvent trust, again in the light of Article 32. The Mourant teams who appeared on the winning side in both cases will explain these decisions and the ramifications for trust administration going forward.
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