Walkers acts for beneficiaries in major trust dispute

The trial of Lea Lilly Perry & Tamar Perry v. Lopag Trust Reg. and others (Cause No. FSD 205 of 2017), listed for 12 days before the Honourable Justice Segal concluded on 5 March 2019 with judgment being reserved.

The case concerns a trust dispute in which the plaintiffs seek the setting aside of the transfer into a Liechtenstein discretionary trust of a single share in a Cayman Islands company by an Israeli businessman with residence in the United Kingdom. The plaintiffs are his widow and eldest daughter, and the principal defendants are the co-trustees of the trust concerned. The dispute arose against the background of a lengthy history of allegations of wrongdoing in relation to the administration of the trust.

The plaintiffs advanced two independent bases for the setting aside: first that the settlement into the trust was made on the basis of a mistake by the settlor in relation to the lack of rights actually afforded to discretionary beneficiaries of Liechtenstein trusts and thus ought to be set aside, and secondly that as a matter of Israeli matrimonial law, the share was the joint property of husband and wife and had been transferred to the trustees for no consideration without the consent of the wife, rendering the transfer void.

Over the course of the trial, in addition to the numerous lay witnesses who gave evidence both in person and by video link, in English and in Hebrew, the court also heard extensive expert evidence of Israeli and Liechtenstein law.

Nick Dunne, Partner and Andrew Gibson, Senior Counsel acted for the Plaintiffs, led by David Brownbill QC of XXIV Old Buildings.

Nick DunnePartnerT +1 345 814 4548nick.dunne@walkersglobal.com
Andrew GibsonDirector of LegalT +1 345 814 4573andrew.gibson@walkersglobal.com

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