STEP Asia Conference Series Webinar 3: Global Trust Issues, Part 2 - 17 November 2020

Host group
Host Left
Hosted by
STEP Hong Kong
Event Type
Web Event
Date

This session forms part of the Asia Conference Webinar Series. Book individual sessions or attend the whole series and receive 15% off your booking fee.  

Agenda (17.00-18.30 Hong Kong Time)

Chair: Joanna Caen TEP, PraxisIFM Nerine (Hong Kong) Limited, Hong Kong

17.00: Mitigating fiduciary obligations – how far can (and should) a trustee go?
With trustees being increasingly concerned about potential liabilities to beneficiaries with respect to the administration of trust assets, the issue of transferring asset management responsibility to the settlor or other parties has become more prevalent. What needs to be done to effectively mitigate the trustee's liabilities, and how can this most effectively be done? Are reserved powers trusts and anti-Bartlett clauses the solution and what limitations do they have? At the same time, there are many implications of settlors retaining control of the trust's assets, including tax, asset protection, divorce and heirship disputes. The speaker will explain these concerns. 

Speaker

  • Professor Steven Gallagher, Faculty of Law, The Chinese University of Hong Kong, Hong Kong 

17.45: Alternative dispute resolution for trust disputes
Litigation before the courts, especially in a far-flung jurisdiction, is complex, expensive and time-consuming. Modern trust deeds increasingly include provisions for simplified dispute resolution. How effective are these and what are the limits? Will courts give up their supervisory jurisdiction and enforce such provisions? Can these provisions bind beneficiaries who are not parties to the trust deed? And what is the efficacy of provisions that seek to punish beneficiaries who bring their disputes to the courts in violation of these provisions? The session will explore these and other issues, and also discuss Singapore’s initiative to establish itself as a trust remediation centre.

Speakers

  • Werner Jahnel, LALIVE SA, Switzerland
  • Steven Kempster TEP, Withers LLP, UK

Speaker biographies

#STEPAsia
 

Thank you to our sponsor

WE ARE GUERNSEY
Cost group
Event Cost
Hong Kong Dollar
600.00
STEP Member
Hong Kong Dollar
720.00
Non-Member
*Prices include VAT that is chargeable to all delegates
Schedule
17.00-18.30 Hong Kong Time (GMT+8)
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1.5 Hours
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Contact
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Add to Calendar 2020-11-17 00:00:00 2020-11-17 00:00:00 STEP Asia Conference Series Webinar 3: Global Trust Issues, Part 2 - 17 November 2020 This session forms part of the Asia Conference Webinar Series. Book individual sessions or attend the whole series and receive 15% off your booking fee.   Agenda (17.00-18.30 Hong Kong Time) Chair: Joanna Caen TEP, PraxisIFM Nerine (Hong Kong) Limited, Hong Kong 17.00: Mitigating fiduciary obligations – how far can (and should) a trustee go? With trustees being increasingly concerned about potential liabilities to beneficiaries with respect to the administration of trust assets, the issue of transferring asset management responsibility to the settlor or other parties has become more prevalent. What needs to be done to effectively mitigate the trustee's liabilities, and how can this most effectively be done? Are reserved powers trusts and anti-Bartlett clauses the solution and what limitations do they have? At the same time, there are many implications of settlors retaining control of the trust's assets, including tax, asset protection, divorce and heirship disputes. The speaker will explain these concerns.  Speaker Professor Steven Gallagher, Faculty of Law, The Chinese University of Hong Kong, Hong Kong  17.45: Alternative dispute resolution for trust disputes Litigation before the courts, especially in a far-flung jurisdiction, is complex, expensive and time-consuming. Modern trust deeds increasingly include provisions for simplified dispute resolution. How effective are these and what are the limits? Will courts give up their supervisory jurisdiction and enforce such provisions? Can these provisions bind beneficiaries who are not parties to the trust deed? And what is the efficacy of provisions that seek to punish beneficiaries who bring their disputes to the courts in violation of these provisions? The session will explore these and other issues, and also discuss Singapore’s initiative to establish itself as a trust remediation centre. Speakers Werner Jahnel, LALIVE SA, Switzerland Steven Kempster TEP, Withers LLP, UK Speaker biographies #STEPAsia   Thank you to our sponsor STEP Hong Kong STEP Hong Kong Europe/London public