Trustee Liability

In this podcast, we shall consider the potential liability exposure of Singapore trustees, settlors and protectors.

4 Case Studies will be considered:

1. The first case study will consider whether Singapore trustees, settlors and protectors may validly exclude negligent liability, including “gross” negligence, and whether the settlor of a reserved power trust stands in a fiduciary position;

2. The second case study will consider the effectiveness of a “Bartlett” clause where trustees effectively supervise the activities of underlying companies. The future use of Bartlett clauses will then be considered, particularly in light of recent FATF TCSP guidance;

3. The third case study will consider the liability position of a private trust company (PTC) and its directors, and the basis on which trustee removal proceedings may be brought against a PTC;

4. The fourth and final case study will consider whether a trustee, settlor or protector may rely on a foreign law trust locally administered in Singapore to provide additional liability protection.

We are grateful to be joined by:

• Vikna Rajah, Head, Tax, Trust & Private Client, Rajah & Tann
• Tan Woon Hum, Partner, Shook Lin & Bok
• Zac Lucas, Partner, McCarthy Denning
• Yeoh Lian Chuan, Managing Partner, Sabara Law (Deloitte Legal)
• Antonio Ribeiro, Partner, Rhone Trustees

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Webinar audio recording dated 8 July 2020. See Disclaimer, Copyright and Trademarks at https://www.zaclucas.com/disclaimer