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The final chapter? Winding up the Z III Trust

The final chapter? Winding up the Z III Trust
Published on: 10 June 2019
Published by: LexisPSL
  • The final chapter? Winding up the Z III Trust
  • What was the background?
  • Winding up the Z III Trust
  • The Z III Trust order
  • What are the practical implications of this case?

Article summary

Private Client analysis: The Royal Court of Jersey has determined that the preferred course to follow when winding up an insolvent trust is for the existing trustee to apply a formal winding up procedure under the Court's supervision. Key features of this procedure would be (i) a moratorium on legal claims; (ii) the trustee should advertise for claims on the trust assets; and (iii) the trustee should require creditors to prove their claims before distributing the assets. or take a trial to read the full analysis.

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