Legal News

Interpretation of the Cayman Islands’ firewall provisions in the Trusts Act (2021 Revision)—The Stingray Trust

Published on: 26 March 2021
Published by: LexisPSL
  • Interpretation of the Cayman Islands’ firewall provisions in the Trusts Act (2021 Revision)—The Stingray Trust
  • What are the practical implications of this case?
  • Background
  • Issues
  • What did the court decide?
  • Section 90 of the Trusts Act (2021 Revision)
  • Forum clause
  • Forum non conveniens

Article summary

Private Client analysis: The decision in Stingray Trust is the latest in a line of recent case law considering the effect of the Cayman firewall provisions in the Cayman Islands Trusts Act (2021 Revision) (the Act). The Grand court of the Cayman Islands (the Cayman court) determined that section 90 of the Act does not confer exclusive jurisdiction on the Cayman Islands courts to determine issues of validity arising under trusts governed by Cayman Islands law. Accordingly, in a case for the determination of the validity issue, section 90 of the Act does not abrogate the English common law principles of forum non conveniens on the question of whether a foreign court, applying Cayman Islands law to the validity issue, is a more convenient forum for determining the issue than the Cayman Islands courts. Written by Hector Robinson QC (partner, Cayman Islands) and Jessica Vickers (senior associate, Cayman Islands) of Mourant Ozannes, who appeared for the trustee of the Stingray Trust in the proceedings. or take a trial to read the full analysis.

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