Equity and trusts

• Main Authors: TANG, Hang Wu, TAY, Yong Seng
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2024
• Subjects: Asian Studies; Estates and Trusts
• Online Access: https://ink.library.smu.edu.sg/sol_research/4583; https://ink.library.smu.edu.sg/context/sol_research/article/6541/viewcontent/2023SALAnnRev450_pvoa.pdf
• Institution: Singapore Management University

Ivanishvili, Bidzina v Credit Suisse Trust Ltd' ("Ivanishvili") is a landmark trust case which makes major contributions to the law on trustee's duties in a settlor reserved power trust, anti-Bartlett clauses and constraints on the trustee's right to amend the trust deed. An appeal has been allowed in part by the Court of Appeal in Credit Suisse Trust Limited v Ivanishvili, Bidzina. The Court of Appeal's decision will be considered in next year's review. The present review of this case focuses on the decision of Patricia Bergin IJ. Mr Bidzina Ivanishvili ("Plaintiff"), his wife and their three children, were the beneficiaries of the Mandalay Trust ("Trust"). It was proposed to the Plaintiff that he place his funds with the defendant, Credit Suisse Trust Ltd ("Defendant"). The Plaintiff agreed to place over US$lbn on trust with the Defendant for purposes of inheritance planning and asset holding.