Gany Holdings (PTC) SA v Khan and others (British Virgin Islands); Rangoonwala v Khan and others (British Virgin Islands)

Trust and Trustee – Trust assets. Although the decision of the Court of Appeal of the Eastern Caribbean Supreme Court, that three companies had become property of a trust during the deceased's lifetime, had been correct, it had gone wrong in its analysis. The Privy Council further held that the failure to appreciate that the shareholdings in the three companies had formed part of the trust's property had amounted to a serious breach of fiduciary duty, sufficient to trigger the court's discretionary power to set aside the appointment of the whole of the trust fund to the second appellant beneficially.

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