Legal News

FURBS and firewalls (In the matter of the A Limited FURBS and the B EBT)

Published on: 31 May 2017
Published by: LexisPSL
  • FURBS and firewalls (In the matter of the A Limited FURBS and the B EBT)
  • Original news
  • What is the background to this case?
  • What legal issues does it involve?
  • Could you offer some comment on the court’s observation in para [46] that ‘the nature of the FURBS was such that T Limited was placed in a different position to the trustee of a discretionary trust’. What is the significance for other types of commercial trusts?
  • To what extent is the judgment helpful in clarifying the law in this area?
  • What are the practical lessons for advisers?

Article summary

Private Client analysis: In seeking the disclosure of assets in a family trust in Guernsey, the divorce of a husband and wife in England has raised the issue of the jurisdiction of a foreign court. Mathew Newman, head of the dispute resolution team at Ogier Guernsey, examines In the matter of the A Limited FURBS and the B EBT, and explains that the decision is helpful because it clarifies the extent to which the court will assist trustees of Guernsey trusts in carrying out their functions. or take a trial to read the full analysis.

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