Schmidt v Rosewood Trust Ltd
2003 · [2003] UKPC 26, [2003] 2 AC 709
Posted By lanbuk.com
- Facts
- The son of a deceased man sought information about offshore trusts in which his father had been interested.
- Issue
- Does a have a right to see documents?
- Held
- The Privy Council held that disclosure is part of the court's inherent to supervise trusts. It is a matter of discretion, not a property right.
- Principle
- The court decides disclosure as part of its supervisory jurisdiction.
- Why it matters
- It is the modern leading case on trust information.
Words and Latin in this note
- Beneficiary
- A person entitled to the benefit of trust property in equity, who can make the trustees carry out the trust. Open the note.
- Trust
- An arrangement in which a trustee holds property at law but must use it for beneficiaries, or for a charitable purpose. The beneficiaries have the equitable interest. Open the note.
For study only. By lanbuk.com. Always check current sources and consult a qualified professional.