The Weekly Law Reports
[2023] 2 WLR 133
Privy Council
Equity Trust (Jersey) Ltd
v
Halabi
Investec Trust (Guernsey) Ltd and others
v
Fort Trustees Ltd and another
[2022] UKPC 36
2021 June 15, 16, 17; 2022 Oct 13
Lord Reed PSC, Lord Briggs, Lord Stephens, Lady Rose, Lord Richards JJSC, Lady Arden, Sir Nicholas Patten
Trusts— Trustee— Indemnity— Trustee incurring liabilities and expenditure in capacity of trustee— Whether trustee’s right of indemnity conferring proprietary interest in trust assets— Whether such proprietary interest surviving transfer of trust assets to successor trustee— Whether former trustee’s proprietary interest taking priority over equivalent interests of successor trustees— Whether trustee’s indemnity extending to costs of proving claim against insolvent trust
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