The Privy Council recently handed down a decision that resolved years of litigation in two separate cases.
At the heart of both appeals was one question: in what order of priority do trustees’ indemnity claims rank where the trust assets are insufficient to satisfy them all?
The Privy Council’s ruling answers important questions about insolvent trusts, the nature of trustee liens and the ranking of trustee indemnity claims.
Our own Clementine Dowley’s article on the decision can be read in the latest edition of ThoughtLeaders4 Private Client Magazine, linked here with kind permission: https://protect-eu.mimecast.com/s/lpxNCk52ptOP1Nvu2q3Ki?domain=thoughtleaders4.com
The full magazine is available on TL4’s website.