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Trusts: Retiring Trustee’s Lien

 Representation of Geneva Trust Company SA [2023] JRC 109 – The Court held that a retiring trustee’s lien over the trust assets is a right to withhold those assets but not to sell them. The Court also exercised its power to make a conditional order by way of conditional leave to defend, to the effect that the defendant trustee in this case pay into Court the amounts claimed by the current trustees. Although the current trustees had not applied for summary judgment, the Court may grant summary judgment on its own motion and in this case, given that the Court considered that the current’s trustee’s defence had only an improbable chance of success, it made a conditional order under RCR Rule 7/4(1)(d) and 7/4(2) that money be paid into Court.

Bridgeford A, WDJL 31 July to 06 August 2023