Grand Court Judge Hon Priya Levers has highlighted in London the invaluable work carried out by the Cayman Islands' Grand Court judges in the area of trusts, an important aspect of the Islands' financial services.
Justice Levers was the keynote speaker at an inaugural seminar held on 19 March by the Association of Contentious Trust and Probate Specialists.
This was the first time that a speaker from the Cayman Islands has made a presentation at an event of this organisation.
Trusts are one of Cayman's speciality financial instruments. The Islands' trust laws are modelled on the UK's, but have been tailored to its strength as a leading offshore entity dealing in trusts.
Speaking on the topic "An Exploration of "The Irreducible Core" of the Trust in Reviewing Cases (and Statutes) from the Cayman Islands', Justice Levers examined the Cayman Grand Court's discretionary powers in trust cases.
She also alluded to the "very wide statutory jurisdiction" given to the Cayman Court by the main law governing trusts on the Islands - the Cayman Islands Trust Law (2001 Revision).
"While its boundaries have never been exhaustively defined by the Court, it has from decided cases clearly come to be regarded as a remedial jurisdiction for orders to be made as the justice of the case deserves," she said.
Justice Levers also looked at the special role that the Grand Court has to play when called to adjudicate the supervision of trust administration to ensure that the trustees' actions benefit the beneficiaries.
Courts are called upon to determine legal nuances and judicial questions brought before them in the "relationship between the trustee and the objects of his trust", principally the beneficiaries.
Even if not specifically asked to comment, grand court judges may themselves deem it necessary while delivering the judgement to make pronouncements interpreting the law and setting precedent.
"The common themes that emerge from the cases we will review will provide a road map not only for the likely judicial approach to apparently new questions but should also inform the draughtsman's techniques and guide legislative innovation," Mrs Levers said in her well-received lecture.
She took a two-fold approach to the topic, considering first the beneficiaries' rights, followed by the trustees' duties.
The lecture received praise from attendees for both delivery and content, according to the Association Chairman Henry Frydenson, and will be published in the association's newsletter.
The association has among its select honorary members House of Lords representatives, English judges and the Attorney General of Jersey. Mrs Levers was invited to be one and is now an honorary member.
She gratefully acknowledged the valuable input she received in writing the paper from Sara Collins, partner in Walkers law firm, and Debra Morris, Assistant Director of the Cayman Islands Law School, both of whom accompanied her on the trip.