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Trusts: Blessing Application; Loan Write Off

In the matter of the Representation of Ocorian Private Trustees (Jersey) Limited and Ocorian Limited – Re: Y Trust [2023] JRC 087 – This application for the blessing of a trustee’s decision was adjourned by the Court (Bailhache Cmmr, and Jurats Ronge and Austin-Vautier) because the Court came to the conclusion in the course of argument that the trustee’s proposal to write off a loan to the Second Respondent as part of a restructuring and an equalisation process between beneficiaries, was on the facts wrong in principle.

Bridgeford A, WDJL 3 to 9 July 2023