Trustees Rights Removed in Suspicious Transaction Cases in Guernsey

The Guernsey Royal Court's recent decision in Liang v RBC Trustees (Guernsey) Limited (GRC 20/2018) lays precedent that when the Financial Intelligence Service has given a 'no consent' response to a suspicious activity report, a Trustee has extremely limited rights with the estate and cannot enter into a transaction.

The above case is regarding a trust beneficiary who stated herself to be the true economic settlor and pursued to have the trust wound up in her favour, however the trustee had reservations regarding the funds origin and reported her instructions to the police.