On 13 October 2022 the Privy Council handed down their long awaited judgment in the two cases of Equity Trust (Jersey) v Halabi and ITG Ltd and others v Fort Trustees Ltd and another (Guernsey).
This judgment answers key outstanding questions on the insolvency regime for trusts, including whether the claim of a former trustee takes priority over the claims of successor trustees on a first in time basis, or whether the assets of an insolvent trust should be distributed on a pari passu basis between current and former trustees.
Collas Crill acted for the successful lead appellant before the Privy Council in Halabi (Appellant) v Equity Trust (Jersey) Ltd (Respondent) in re the ZII Trusts 2022 UKPC 36. Group Partner Simon Hurry, who led the Collas Crill team representing Mr Simon Halabi, along with Partner Kellyann Ozouf who was part of the team working on the case, will be speaking at the STEP Contentious Trusts and Estates Special Interest Group's webinar on the judgment.
In the webinar the panel, who all acted in the Privy Council hearing, will provide their insights into the way the decision has fallen, and the practical implications.
Click here for more information or to register for this event.