This Practice Note was originally drafted by Christopher Kerr-Smiley, Legal Director at Womble Bond Dickinson, but is now maintained by Lexis®PSL Private Client....
This Practice Note outlines Bermuda trust law and focuses upon its unique features and recent reforms, such as Bermuda's regime for private trust companies (PTCs) and...
British Virgin Islands (BVI) trusts law is contained in the Trustee Ordinance, Cap 303 (as amended) as revised from time to time and the Virgin Islands Special Trusts Act...
Part VIII of the Trusts Law (2011 Revision) Non-charitable purpose trusts are called ‘STAR’ trusts in the Cayman Islands. They are subject to specific statutory...
The common law trust has long been a feature in many kinds of commercial arrangements. It has certain unique characteristics which set it apart from other legal...
Overview of potential IHT charges It is important when establishing or operating an employee benefit trust (EBT) that the potential for Inheritance Tax (IHT) charges to...
FORTHCOMING CHANGE: The EU Fifth Money Laundering Directive (5MLD) was published in the EU official journal on 19 June 2018 and came into force on 9 July 2018. The...
For general information on Guernsey, see Practice Note: Private Client jurisdictional guide—Guernsey. Guernsey as a trust jurisdiction Whilst there are examples of...
For general information on the Isle of Man, see Practice Note: Private Client jurisdictional guide—Isle of Man. Legal framework Isle of Man trust law has its roots in...
For general information on Jersey, see Practice Note: Private Client jurisdictional guide—Jersey [Archived]. Legal framework The legal framework for Jersey law governed...
This Practice Note considers what a purpose clause in a facility agreement actually is. It examines how the actual wording of the clause can impact on whether a...
What is a Quistclose trust? A Quistclose trust is an example of an ‘automatic’ resulting trust, ie a trust which arises where property is transferred by one party to...
BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be treated by the EU as a...
This [Deed OR Agreement] dated [•] 20[•] is made Parties 1 [insert name], a company incorporated in England and Wales with registered number [insert company number] whose...
This Practice Note was originally drafted by Owen Clutton of Macfarlanes LLP but is now maintained by Lexis®PSL Private Client. Trustee residence test The Finance Act...
Brexit: On 31 January 2020, the UK ceased to be an EU Member State and entered an implementation period, during which it continues to be subject to EU law. During this...
Introduction In a syndicated loan transaction, the security agent (sometimes also known as the security trustee) (the Security Agent) will hold the transaction security...
THIS PRACTICE NOTE APPLIES TO TRUST-BASED OCCUPATIONAL PENSION SCHEMES Trustees may be subject to personal liability if they commit a breach of trust which causes loss to...
Introduction Many trusts own shares as part of a portfolio of investments. This Practice Note looks at situations where trustees own shares in order to achieve some other...
THIS PRACTICE NOTE APPLIES TO TRUST-BASED OCCUPATIONAL PENSION SCHEMES Individual trustees v corporate trustee The most common trustee structures used for trust-based...
The use of special purpose vehicle structures is very common in aviation finance. They provide various advantages for lenders such as tax benefits and providing a...
FORTHCOMING CHANGE: The EU Fifth Money Laundering Directive (5MLD) was published in the EU official journal on 19 June 2018 and came into force on 9 July 2018. The...
