Private Wealth and Trust Disputes Notes

Monthly Private Wealth Legal Developments - APAC

Welcome to Herbert Smith Freehills' new monthly private wealth industry updates in Asia. Every month we survey a number of Asian jurisdictions for legal …

Recent determinations by the Australian Tax Office perpetuate international tax trust morass

The Australian Tax Office has made two recent determinations which sink the law in this area into further confusion. The first draft determination, TD …

Court of Appeal overturns High Court decision in Cowan v Foreman to grant permission to bring claim for financial provision under the Inheritance (Provision for Family and Dependants) Act 1975 17 months out of time

In the recent decision in Cowan v Foreman [2019] EWCA 1336 the Court of Appeal overturned the first instance decision and granted permission to the …

High Court refuses permission to bring out of time application under section 4 of the Inheritance (Provision for Family and Dependants) Act 1975 in Hendry v Hendry & Pertiwi [2019] EWHC 1976 (Ch)

In the latest in a series of decisions on out of time claims, the High Court refused permission to bring an out of time claim under the Inheritance …

The Supreme Court of Bermuda considers whether to exercise its inherent jurisdiction to intervene in the administration of a trust and confirm the actions of trustees which had been invalidly appointed

English High Court considers presumption of advancement between parent and child in context of parent's bankruptcy following substantial gifts to child

In Nicholas Stewart Wood and David John Standish (as the joint trustees in bankruptcy of Karl Eric Watkin) v Kate Rebecca Watkin [2019] EWHC 1311 (Ch), …

Beware the conditional gifts – High Court rules children of beneficiary take gift subject to conditions subsequent in will despite lack of knowledge

A recent decision of the High Court clarified that where a beneficiary of a will predeceases the testator and the gift vests in the beneficiary's …

FATF Guidance in relation to the Risk Based Approach for Trust and Company Service providers – helping TCSPs design effective measures to manage money laundering/terrorist financing risks

The Financial Action Task Force (FATF) published updated guidance in relation to the Risk Based Approach (RBA) for Trust and Company Service Providers …

UK: Charity Commission freezes bank accounts pending investigation into grant-giving charities with common trustees

English court clarifies meaning and effect of "serious harm" requirement under Defamation Act 2013

The Supreme Court has held that the requirement to show “serious harm” under section 1(1) of the Defamation Act 2013 (the "2013 Act") not only raises the …

Directors' company obligations trump family interests

(Great) legitimate expectation(s)?