Carey Olsen has praised the Royal Court of Guernsey for its role in clarifying the rights and responsibilities of trustees and practitioners who make applications for ‘momentous’ decisions. 

In a recent judgment concerning LKM Discretionary Trust, the Guernsey court approved the trustee’s application to make a substantial distribution of trust assets to a third party on behalf of one of the trust’s beneficiaries. The application was made in order to satisfy the terms of a deferred prosecution agreement made against the trust’s beneficiary, and approved despite objections from one of the trust&rsqu...