Mr Nick Williams

Nick Williams

Updates

Company & Commercial

Developments in unfair prejudice law
Jersey | 06 August 2012

The Royal Court recently clarified its approach to applications made under Articles 141 to 143 of the Companies (Jersey) Law 1991. The decision makes clear that if a minority shareholder has grievances that it proposes to advance in litigation, careful thought must be given before choosing which procedural path to take. It also acts as useful guidance as to when the statutory unfair prejudice regime will apply.

Private Client & Offshore Services

Undue influence affecting settlors in exercising powers of revocation
Jersey | 11 April 2019

A recent Royal Court decision arose out of an attempt by the settlors of trusts to exercise their power to revoke the trusts. The trustee in this case was concerned and so petitioned the Royal Court for directions. Among other things, the court's decision highlights that trustees should be aware of how a trust fund might be distributed on revocation of a trust. Trustees should also review their terms and conditions of business to ensure that they are protected against any potential adverse consequences.

What the first Jersey insolvency case of its kind in 40 years means for 'back door' to English administration
Jersey | 06 April 2017

A trilogy of recent decisions concerning the high-profile insolvency of a Jersey company has provided a salutary reminder to the international insolvency community and to creditors of Jersey companies that Jersey has a sophisticated insolvency regime which will be used in cross-border insolvencies. These decisions demonstrate that it cannot be assumed that the door to UK administration is always going to be open.

Trustees and dishonest assistance
Jersey | 16 October 2014

In Nolan v Minerva Trust the Royal Court delivered a salutary reminder of the high standards by which professional service providers in Jersey will be judged and the need for scrutiny, careful reflection and demonstrable independence when taking investment decisions. It also underlined the need to be robust – whatever pressure may be exerted – if there are (or should be) questions about the propriety of a transaction.

Court clarifies law relating to bribery and constructive trusteeship
Jersey | 16 January 2014

The Royal Court recently clarified the basis on which professional trustees hold trust assets that ultimately derive from the proceeds of bribes received by a settlor. The court accepted that it was impossible to trace the exact origin of all of the moneys settled into the trust. However, the court inferred, on a balance of probabilities, that all of the moneys settled into the trust represented the proceeds of bribes.

Costs in trust applications: Court of Appeal provides helpful guidance
Jersey | 28 March 2013

The Court of Appeal has clarified the principles relating to the payment of costs in non-adversarial trust applications. In so doing, it has drawn together approaches established in a number of early cases and consolidated the position in an area which it said had previously received only "sporadic consideration". The case is of relevance for all trustees that may be contemplating applications to the court in such circumstances.

Developments in unfair prejudice law
Jersey | 02 August 2012

The Royal Court recently clarified its approach to applications made under Articles 141 to 143 of the Companies (Jersey) Law 1991. The decision makes clear that if a minority shareholder has grievances that it proposes to advance in litigation, careful thought must be given before choosing which procedural path to take. It also acts as useful guidance as to when the statutory unfair prejudice regime will apply.

Court rules on letters of request for administration orders
Jersey | 17 May 2012

In a recent case before the Royal Court of Jersey, the question arose as to whether the court had jurisdiction to send a letter of request to the High Court of England and Wales in respect of four Jersey companies that were ultimate beneficial owners of English real estate. The case sets out the circumstances under which the Royal Court will be prepared to request assistance from the English High Court under the Insolvency Act.

Court rules on extent of trustee's obligation to disclose documents
Jersey | 11 August 2011

The Jersey Royal Court recently discussed the extent of a trustee's obligation to disclose documents and detailed the principles to which it refers in such cases. These include context, capacity, relevance and purpose, as well as implications for other cases, the effect on third parties and procedural appropriateness. Trustees should consider these issues closely before making decisions in relation to requests for documents.