Guernsey Judge Comments on Liang Money Laundering Ruling

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The recent tax case of Liang v RBC Trustees has received further comment from a Guernsey Judge and the decision of the court to invalidate the trust on grounds of being unable to establish the legitimate source of the funds in question.

The court supported a trustee’s decision not to agree to wind up a trust and transfer the funds. Rather, it was held that the liability fell on the asset owner that the suspicion was unfounded using the balance of probability.