WEBINAR No. 2 - Firewall provisions - how unbreakable?
17th March 2022, from 3.00 to 4.30 pm (CET)
Object
Almost all IFCs have enacted “firewall” provisions as part of their trust law, mandating that most aspects of trusts governed by the law of the IFC are to be determined exclusively by that law and refusing enforcement of any foreign judgment which is inconsistent with this choice of law. These provisions, aimed primarily at forced heirship and other family claims, have obvious limits, principally in relation to the validity of the transfer of property on trust. These and other issues relating to the Cayman firewall provisions have been raised in a recent Cayman decision (Re Stingray Trust). This webinar will consider this decision, along with the firewall provisions of the BVI, Bermuda, and Cayman.
Programme
- David Brownbill, QC, Chair: Introduction
- Chris McKenzie, Head of Trusts & Private Client Department, O’Neal Webster, Tortola: Trusts in the conflict of laws - some basics
- David Brownbill: Jurisdictional issues
- David Brownbill & Chris McKenzie: Firewall provisions - Cayman, Bermuda, BVI
- Alberto Lupoi, Professor, University of Padua: The Italian Stingray litigation
- Zeno Crespi Reghizzi, Professor, University of Milan: The decision of the Stingray case by Italy’s Supreme Court
- Panel: the decision of the Stingray case in Cayman and a comparison with Bermuda law and BVI law