THE personal liability of trustees will be examined at a breakfast seminar hosted by AO Hall.
The seminar will look at the most interesting points that emerged from a recent Court of Appeal case involving Investec and the Tchenguiz Trusts.
The court was asked to consider the circumstances in which trustees could be personally liable to repay loans obtained in their capacity as a trustee. As a result of the Court of Appeal upholding Investec’s appeal, which will allow Investec the protection of Article 32 of the Jersey Trust Law, Investec now knows that it will not be personally liable to the claimant companies beyond the extent of the trust assets.
AO Hall’s fiduciary group partner, Paul Buckle, and corporate group partner, Matt Sanders, will look at how the outcome of the case will affect trusts and corporate bodies. They will also examine drafting points that arise.
‘The way in which the Court of Appeal approached the matter was to compare the limitations of liability available to trustees under Article 32, with limitations available to others, such as partners or shareholders, and to apply a consistent approach. The outcome of the case is therefore of interest not only for trustees, but also for others such as directors and shareholders of companies, and those involved with partnerships, limited or otherwise, who may wish to limit their personal liability to third parties,’ said Mr Buckle.
‘The seminar will therefore be of interest to anyone involved with trusts or corporate entities, and in whatever capacity.’
The seminar, which is free, will be held at the Dorey Room in St James on Thursday 7 August. Registration is from 7.30am and the seminar will run from 8am until 10am.
To reserve a place, contact Karen Le Blancq, on 748915 or email firstname.lastname@example.org.