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Specialism: Lawyers Contentious Trusts
Location: St Helier, Jersey
What do clients and peers say of Stephen Alexander: "Accomplished, dedicated and honourable in defending his clients."
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Average client size: Over £25 million
Fixed fee offering: Yes - We offer a range of fee options for clients, including fixed fees, the suitability of which will turn on the particular nature of the instruction.
Number of offices globally: More than 5
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Potential criminal and civil liabilities in a case that involves €1.7 billion in assets
I act for the adult beneficiaries, protectors and two trustees in connection with fifteen related Jersey discretionary trusts in a complex cross-jurisdictional trusts litigation. The matter involved three separate but simultaneous representations (pleadings which have similarities to English CPR Part 8 claims) to the Jersey court regarding, amongst other things, the scope of the court's supervisory jurisdiction over the Jersey trusts, the momentous decision of trustees to distribute significant trust assets and the court's jurisdiction to determine criminal matters, particularly in respect of the Proceeds of Crime (Jersey) Law 1999.
This case involves assets in excess of €1.7 billion and potential criminal and civil liabilities on the part of the family which have been highly publicised.
Retention of over USD 100 million in value of trust assets in a dispute
I act for the trustee of a Jersey law governed discretionary trust. The assets of the trust are illiquid, but comprise of some of the world's most valuable artwork. I advised in connection with an application to the court for the blessing of momentous decisions on the part of the trustee, involving the transfer of trusteeship of the trust in circumstances where the identity of the trustee is uncertain and the negotiation of a highly complex collateralised loan to facilitate the same. As part of this process, the trustee sought the retention of security from the trust fund to protect against its exposure to potential tax proceedings which could be brought against the beneficiaries and the trustee.
The assets of the trust exceed USD 150 million. The relief sought from the Court and the underlying documents were complex and time-sensitive. Potential civil and criminal liabilities of the family concerned are well publicised across the globe. My team prepared, negotiated and agreed on a specialised and tailored trust instrument providing for the retention of over USD 100 million in value of trust assets for the trust company's security against reasonable liabilities. Court approval was successfully obtained for the trustees' decisions to enter into this instrument, together with decisions to enter into connected refinancing arrangements and related actions.