April 22 2016
START DATE
END DATE
May 16 2016
IN THE MATTER OF THE C TRUST
COURT:
LAW:
JUDGE(S):
CLAIMANT'S LAWYER:
DEFENDANT'S LAWYER:
The Supreme Court of Bermuda
CIVIL JURISDICTION
IAN RC KAWALEY CJ
Ben Adamson Conyers Dill & Pearman Limited
N/A
FACTS OF THE CASE:
Extension of the C Trust's duration from its original term to end on 17 December 3002 to accommodate dynastic planning and prevent sudden wealth impact on beneficiaries
SUMMARY:
The trustee applied for an order to extend the Trust duration beyond the rule against perpetuities facilitating a dynastic trust. The court considered legislative intent for cost-effective applications and consent of interested parties.
OUTCOMES:
The duration of the Trust is extended to 17 December 3002 Trustee empowered to amend the Trust accordingly
RULED IN FAVOUR OF:
Trustee
PLAINTIFF/CLAIMANT
DEFENDANT:
DURATION (DAYS):
ISSUES:
RELEVANCE:
RULING:
RULING TYPE:
CASES CITED:
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