Virtually every jurisdiction today is busy developing private international law rules to deal with trusts and similar ring-fenced structures. With the increasing impact of globalisation, business interests throughout the world are intent on maximising the potential of such structures for raising funds, lowering risks, and cutting costs. As a result, numerous complex issues involving the traditional categories of settlor, beneficiary, and fiduciary are being radically transformed.
Extending the Boundaries of Trusts and Similar Ring-Fenced Funds offers valuable analyses, by sixteen well-known authorities in the field, of a broad range of trust-related issues. The many important insights in this book reveal the workings of such issues as the following: the disappearing divergence between common law and civil law jurisdictions in the matter of trusts; using the segregated fund concept to manage the risk of insolvency; the demise of the "amateur trustee" in the charitable trust sector; why loss to the fund supersedes particular losses of beneficiaries; the legal dimensions of hiding ownership by "giving" property to trustees; the intervention of public policy in questions of perpetuity; the selective imposition of OECD and FTF transparency initiatives on offshore jurisdictions; and "policing" of trustee behaviour by beneficiaries. Lawyers, bankers, and others dealing with investment and business finance will find much information as well as food for thought in this fascinating book, as will those involved in the traditional trust industry, whether as trustees or lawyers or fund managers.
Most of the essays in this outstanding thematic collection were originally prepared for presentation at a conference held in 2001 at King's College London.
List of Contributors, Preface, Table of Cases Introductory Overview and
Comment
David Hayton, English Trusts and their Commercial Counterparts
in Continental Europe
David Hayton, Convergence and Divergence: Civil
Law and Common Law
Donovan Waters, The Development of Protected Trust
Structures in Italy
Maurizio Lupoi, Ownership-based Fund Management in
The Netherlands
Hendrik Verhagen, Civil Law Jurisdictions on their Way
to Trusts: A Swiss Viewpoint (with two Appendices)
Luc Thevenoz, The
Commercial Utility of the Trust Vehicle
Sarah Worthington, Charitable
Trusts: Still Going Strong 400 years after the Statute of Charitable Uses
Jean Warburton, Purpose Trusts and Charitable Trusts in Securitisation and
Other Structured Finance Transactions
Patrick O'Hagan and Alec Anderson,
Developing the Obligation Characteristic of the Trust
David Hayton,
From Obligation to Property, and Back Again? The Future of the Non Charitable
Purpose Trust
Paul Matthews, Reaching for the Sky: Taking Trust Laws to
the Limit
Donovan Waters, Reaching for the Sky - Or Pie in the Sky: Is
U.S. Onshore Trust Reform an Illusion
Jeffrey Schoenblum, The American
Uniform Trust Code (with Appendix)
David English, Information Exchange
and the Offshore Financial Centres (with Appendix)
Richard Hay, Trustee
Regulation and Ombudsmen - The Way Ahead Onshore as well as Offshore?
Steven Gidley, Trustee Liability: Exclusion Clauses in Pension Fund Trusts
Robin Ellison, Impeaching the Exercise of Trustees' Distributive
Discretions: "Wrong Grounds" and Procedural Unfairness
Raymond
Davern, Index
