March 19, 2026
The Privy Council has given an important judgment resolving a longstanding issue of offshore trust law about the default role of fiduciary protectors when exercising a power to give or refuse consent to a proposed exercise by trustees of their powers under a trust instrument. The question was whether the protectors are limited solely to reviewing the lawfulness of the trustees’ proposed exercise of power (“the Narrow Role”), or whether the protectors are to exercise an independent discretion by reference to their own view of the merits of the trustees’ proposal (“the Wider Role”). Judgments in England and Jersey had favoured the Wider Role, whereas the courts in Bermuda (from which this appeal was heard) preferred the Narrow Role. Overturning the Bermuda Court of Appeal, the Privy Council has decided that the protectors have the Wider Role.
Jonathan Crow CVO, KC represented the successful appellants.
Click here for a copy of the judgment.
