Successful trusts and funds Cayman Islands seminar

The topics included:

• A Question of Trust? Trusts have become a regular feature of commercial structures, whether by intention or implication. This imposition can have dramatic effects on the relative rights, interests and obligations of the parties, raising questions on the scope of retained rights, fiduciary obligations, creation of proprietary interests and equitable charges, trustees’ liens and set off, Quistclose trusts and loans for purpose. David Brownbill QC and Edward Knight investigated the consequences of trusts in commercial situations and, in particular, insolvency.
• How certain is certain? The effectiveness of certificates of NAV. The approach of the courts ot the technique of using certificates of NAV to settle quantum of value or amount ought to be consistent particularly on the limites of the court’s power to intervene and review. Francis Tregear QC and David Herbert explored this area in the context of funds in the light of the recent Court of Appeal autnoirty in North Shore Ventures v Anstead Holdings [2011] EWCA Civ 230 which is a picturesque case relating to certificates of indebtedness in a guarantee context.
• Breaking and entering: cracking trusts via proprietary and personal claims. Stephen Moverley Smith QC and Alexander Pelling discussed the remedies against wrongdoers who have put their profits into trusts in the light of the Versailles litigation and TMSF v Demirel.

If you would like more information on any of these topics, please contact Chambers on +44 (0)207 691 2424.