Trusts & Trustees has published Timothy Sherwin’s article “Infamy, infamy, I need an indemnity: the nature and enforcement of the trustee’s right of indemnity”.
In his article, Timothy considers the nature and enforcement of the trustee’s right of indemnity. He sets out the principles underlying the trustee’s right of indemnity; and assessES the recent decisions Meritus Trust Company Limited v Butterfield Trust (Bermuda) Limited and Rawlinson & Hunter Trustees SA v Chiddicks (the “Z Trusts” case), dealing with enforcement of the right of indemnity in light of those principles. Finally, he concludes, in line with the Court of Appeal in Z Trusts, that the trustee’s right of indemnity is enforceable by way of a lien or charge, which lien or charge is an equitable proprietary right that has priority over any subsequent transaction, including over a successor trustee’s rights of indemnity.
Timothy is a specialist in trusts litigation, with particular expertise in dealing with disputes over trustees’ indemnities, in both a solvent and an insolvent context. He has been described by Chambers and Partners UK Bar as a “very able junior” and simply “excellent”.