- Obtaining Beddoe relief where a third party claim may exhaust trust assets
- What issues did this case raise?
- What did the court decide and what are the practical implications?
- To what extent is the judgment helpful in clarifying the law in this area?
- What are the implications for practitioners? What will they need to be mindful of when advising in this area?
- Are there still any unresolved issues practitioners will need to watch out for? If so, how can they avoid any possible pitfalls?
- To what extent will the decision be persuasive in other jurisdictions?
Private Client analysis: The Grand Court of the Cayman Islands has granted Beddoe relief to a trustee, in circumstances where a successful third party claim would have exhausted the trust assets. Rachael Reynolds, partner, and Shaun Maloney, associate at Ogier, examine the case of X (as Trustee of the A Trust) v Y (as Beneficiary of the A Trust) (unreported) 15 March 2017, Smellie CJ and assess the extent to which the decision will be persuasive in other jurisdictions.
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