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Karen Le Cras
Specialism: Lawyers Contentious Trusts
Company: Carey Olsen
Location: St Peter Port, Guernsey
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Karen Le Cras currently has no Citywealth award
Average client size: £5 million - £25 million
Fixed fee offering: No
Number of offices globally: More than 5
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Karen acted for the trustee in the case of M v St Anne's Trustees Limited in which the Guernsey Court of Appeal handed down a landmark judgment clarifying the application of relief under the rule in Hastings-Bass in Guernsey. (The rule is a trust law principle which allows certain decisions to be undone if they have unintended tax consequences) . Setting aside the first decision of the Royal Court, the Court of Appeal proceeded on the assumption that Guernsey law in respect of the rule in Hastings-Bass is to "like effect" as was established by the Supreme Court in Pitt v Holt, but left the door open for argument as to whether any breach of duty on the part of a trustee is required for the rule to apply.