Can a BVI trustee use a special power of appointment to amend a trust?
This article was first published in the September 2016 edition of Trusts & Trustees: Volume 22, Issue 7. Please click here to view the publication's website.
In this article Ray Davern analyses the decision of Bannister J, at first instance, and the Court of Appeal of the Eastern Caribbean Supreme Court, on appeal, in the matter of The New Huerto Trust, ex p. Royal Fiduciary Group Limited. The case raised the question whether British Virgin Islands law follows English law on the availability, in general, of special powers of appointment for the purpose of amending a discretionary trust by, amongst other things, excluding one or more discretionary objects, and of the availability, in particular, of the special power of appointment conferred by the New Huerto Trust for that purpose.