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Specialism: Lawyers Non-contentious Trusts Contentious Trusts
Company: Dickinson Gleeson
Location: St Helier, Jersey
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2020 IFC Awards
Lawyer of the Year - Channel Islands & Isle of Man
Craig Swart currently has no Citywealth award
Average client size: Over £25 million
Fixed fee offering: Yes
Number of offices globally: 1-5
Craig Swart currently has no contact details
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Insolvent trusts: defining the duties of trustees
Craig Swart continues to advise one of the trustees in the long running saga involving two ‘insolvent’ Jersey trusts. The trustees sought directions in early 2015 as to the ongoing administration of the trusts. The case is ground-breaking in that it defines the duties of trustees dealing with 'insolvent' trusts; the competing rights of creditors and beneficiaries and more importantly the equal ranking of successive trustees’ rights of indemnity (as now confirmed by Jersey’s highest court of appeal, the Judicial Committee of the Privy Council); and the fetters on fiduciaries’ (including protectors’) powers that arise. It also confirms that the court’s supervisory jurisdiction is wide ranging permitting it to impose a “winding up” type regime as it has now done in relation to both trusts.