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Extending the Boundries of Trusts and Similar Ring-Fenced Funds by

Extending the Boundries of Trusts and Similar Ring-Fenced Funds

Edited by David J. Hayton


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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.

Publish Date 07/01/2002
Publish Frequency As Needed
Product Line Kluwer Law International
ISBN 9789041198792
SKU 10057789-0001
Table of Contents
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