Judgment · jid 4131 · pdb #3909

In the Matter of B Trust - Reasons for Judgment

FSD 0206/2017 (ASCJ) · 2019-08-20

Restructuring and distribution of trust assets - jurisdiction of court to direct Trustee - Trustee's right to apply to court for the "blessing" of its decisions to restructure and distribute - obligation of trustee to make full and frank disclosure of relevant information - whether Court should give final blessing to effect distribution before all steps in the transaction are completed and disclosed to the Court – Trustee to be indemnified if acting with the blessing of the Court - Court's approval to be binding upon all beneficiaries including minors and future unborns - duty of Court to satisfy itself that it is fully informed and that interests of minors and unborns are protected.

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Full metadata

Cause Number	FSD 0206/2017 (ASCJ)
Court	CIGC (FSD)
Judge	Smellie CJ
Parties	In the Matter of B Trust - Reasons for Judgment
Judgment Date	2019-08-20
Subject	Restructuring and distribution of trust assets - jurisdiction of court to direct Trustee - Trustee's right to apply to court for the "blessing" of its decisions to restructure and distribute - obligation of trustee to make full and frank disclosure of relevant information - whether Court should give final blessing to effect distribution before all steps in the transaction are completed and disclosed to the Court – Trustee to be indemnified if acting with the blessing of the Court - Court's approval to be binding upon all beneficiaries including minors and future unborns - duty of Court to satisfy itself that it is fully informed and that interests of minors and unborns are protected.
Filename (current)	19-08-20-In-the-matter-of-B-Trust.pdf
File MD5	536da9d275d50d2b644838fbb1d2012b
Source pipeline	pdb
PDB record ID	3909
PDB URL	https://judicial.ky/n0c-storage/judgments-repository2/19-08-20-In-the-matter-of-B-Trust.pdf

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In the Grand Court of the Cayman Islands — Financial Services Division

Cause No. FSD 0206/2017 (ASCJ)

In the Matter of B Trust - Reasons for Judgment

Before
Smellie CJ

Judgment delivered 2019-08-20

IN THE GRAND COURT OF THE C
REASONS FOR JUDGMENT

What AB now seeks therefore,
(b) ... (c) any question as
in this regard, an appointment out of

In this case, it

As already mentioned, HM

According to Mr. Ta
documents will have been settled and executed and

Thus explained, AB’s
independent valuation has been obtained and all

Nonetheless, given the juxtap
distribution of the assets. But as the
that situation from the second situation that I
(4) The fourth category is where
consistent with an approach that has been adopted

While I accept that the
within Public Trustee v Cooper Category
prohibiting the exercise proposed). The

With these concerns in mind

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