Update

Schroder Cayman Bank and Trust Co Ltd v Schroder Trust AG

The Cayman Islands court held that three separate appointments of capital from an employee benefit trust established in the Cayman Islands to three employee financed retirement benefit schemes in Jersey were void as a result of an excessive execution of powers contained in the relevant Trust deed by the Trustees and on the grounds of mistake.  In separate proceedings in Jersey, the Jersey court granted recognition of the decision of the Cayman Islands court. This briefing provides further details of the decision.