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Specialism: Lawyers Contentious Trusts, Immigration, Reputation Management
Company: Carey Olsen
Location: St Peter Port, Guernsey
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Average client size: £5 million - £25 million
Fixed fee offering: Yes
Number of offices globally: More than 5
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Dealth with high profile and one of the longest running trust dispute in Guernsey
Elaine acted for the Joint Liquidators of four BVI Companies who obtained judgment for over £179 million plus interest in 2013. The judgment related to sums payable under loans and in restitution by the former trustees of the Tchenguiz Discretionary Trust, namely Investec Trust and one of its subsidiaries. This was one of the most high profile and longest running trust disputes in Guernsey, which is still ongoing.
Elaine represented the Trustee in the court of appeal hearing of an application made by the beneficiary of a Guernsey law trust recognised as a QROPS Pension Scheme. The beneficiary had made an application pursuant to the so-called rule in Hastings-Bass to set aside the exercise of certain of the Trustee's powers. The Judgment, which was handed down in June 2018, is the first reported decision at the appellate level on the application of the rule in Hastings-Bass in Guernsey law.