Island attracts Trust restructuring interest
The private client sector in Bermuda continues to show considerable strength, aided by a buoyant restructuring trend, according to Carey Olsen Bermuda partner Keith Robinson.
He was a speaker at the Transcontinental Trusts International Forum 2018, which was held at Hamilton Princess this week.
Mr Robinson has expertise in high-value trust matters and court-approved trust restructurings and is the current chairman of the executive committee of the Bermuda Branch of the Society of Trusts and Estates Practitioners.
Carey Olsen Bermuda was a sponsor of the conference for the first time. Mr Robinson appeared as part of panel session entitled “Offshore update — Bermuda, Bahamas and Cayman”.
He said: “We continue to see strong interest in very-high-value trust structures migrating to Bermuda to take advantage of our flexible court-based restructuring regime.
“The ability to perpetuate trusts by an efficient court process also continues to attract wealth-planning structures to the island. In the last 12 months Bermuda has also seen several notable cases involving high-value trusts where the trustees successfully sought the Bermuda Court's approval for a proposed course of action.”
Natasha Kapp, a partner in Carey Olsen's Guernsey trusts and private wealth group, was also speaking at the conference. She co-presented the international trust litigation segment and, in addition, was part of the offshore update panel session, providing the Channel Islands update.
The forum is regarded as one of the key global conferences for the trusts industry, bringing together more than 200 leading practitioners from around the world to discuss the latest issues and challenges facing the sector.
Mr Robinson said: “The Transcontinental Trusts International Forum continues to go from strength to strength and is undoubtedly a ‘must attend' event in the annual private client calendar.”