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Specialism: Lawyers Contentious Trusts
Location: St Peter Port, Guernsey
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Average client size: Over £25 million
Fixed fee offering: No
Number of offices globally: More than 5
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Litigation over splitting trust assets
Alison provided Guernsey advice to a local trust company in relation to the trustee's application for directions made to the Guernsey Court to split of the trust assets and create a new sub-trust for one branch of the family. The trust assets are worth several hundred million pounds.
This has been a long-running multi-jurisdictional matter with issues around the value of the trust assets and disputes amongst the beneficiaries both about the valuation of the trust assets and also piecemeal disclosure of relevant information by certain members of the family, necessitating along the way a trip to Guernsey's Court of Appeal, and satellite litigation in the UK and BVI. This has involved working with other lawyers in both jurisdictions. It has also involved difficult issues of valuing a large trading business in West Africa. A multi-party mediation in London involving all parties and lawyers made some progress.