Following another trial in the Crociani matter, the Royal Court in Jersey has ordered the defaulting trustees to pay a further $33 million into the Grand Trust, in addition to the $100 million already ordered.

When the main judgment was handed down in September 2017, the defaulting trustees, including BNP Paribas Jersey Trust Corporation Limited, were ordered to pay $100 million to reconstitute the Grand Trust, but various inquiries were also set in train to establish the further losses caused by the breaches of trust.

Two inquiries were heard before the Royal Court in Jersey just before Easter 2018, which involved the cros...