Recent research highlights the increasing likelihood of people being willing to dispute a will and go to court if they are unhappy with the division of their relative's estate, and this is definitely an increasing area of work in Jersey. This article answers some pertinent questions concerning wills.
Insider fraud is a problem that persists at all levels of society, irrespective of whether the entity has commercial or altruistic motives. This begs the question of what internal controls and procedures employers in any sector can implement to reduce the risk of insider fraud. This article outlines five steps which could significantly reduce the risk for businesses of any size or type.
Jersey is long established as a primary centre for the establishment of offshore funds and has been at the forefront of international developments, which have attracted international sponsors, promoters, fund managers, advisers and investors. One of the key features of Jersey's fund industry is the flexibility and range of structures and corresponding regulatory and commercial approaches that can be used for funds.
The Royal Court recently declared void certain actions of a trustee by which the assets of two Jersey law trusts had been transferred into a circular ownerless corporate structure, terminating the trusts. This case highlights the need for trustees to obtain detailed legal and tax advice when considering a restructuring of assets held in trust and is a helpful reminder that a trustee's duty to account is at the heart of the trustee-beneficiary relationship.
Under the Security Interests (Jersey) Law 1983, the powers of a secured party on enforcement were limited to a power of sale. The Security Interests (Jersey) Law 2012 changed the way in which security is created over intangible movables and introduced a wider range of enforcement powers. This article examines the enforcement of security interests in the event of default.