'In The Matter The XYZ Trusts' reaffirms section 47 legal principles
'In The Matter The XYZ Trusts' is an important case because it confirmed a number of very useful legal principles. In relation to applications pursuant to section 47 of the Bermuda Trustee Act 1975, it confirmed that such applications may be used in series for the blessing of various stages of a large transaction, the test to be used when asking for the blessing of a momentous decision and that in relation to the variation of a trust it will not create a new settlement. Finally, it confirmed the Bermuda Court’s willingness to issue confidentiality orders in cases involving the administration of private trusts.
In a recent article for Trusts & Trustees, Carey Olsen counsel Stephanie Bernard considered how 'In The Matter The XYZ Trusts' reaffirms section 47 legal principles.
The full article is available to read in Trusts & Trustees - the leading international journal on trust law and practice, and the official journal of the International Academy of Estate and Trust Law (available via the Oxford Academic website).