But in a court judgment full of implications for the finance industry, Sir Philip Bailhache has also made it clear that the Island’s new Trusts Law does not stop foreign courts from interfering with local trusts.
The amended law came into force at the end of October and included changes which, on the surface, should have made Jersey trusts watertight from interference from outside.
But that theory has been tested by Mourant & Co Trustees, who sought advice from the Royal Court after the terms of a £5 million-plus trust, known only as ‘The B Trust’, that they administer was amended by an English court following a divorce.
The couple lived in the UK but the trust was set up in Jersey for tax reasons.
