Bedell Cristin has successfully acted for the plaintiffs in a long-running trust dispute that’s resulted in the reconstitution of a trust fund worth $200 million.
After years of litigation and a trial lasting almost three months, the Royal Court of Jersey found in favour of the plaintiffs, Cristiana Crocianim and her two daughters, Delia and Livia Delrieu, who have been advised by Bedell Cristin’s litigation team since 2012.
The case concerns a Bahamian trust, known as the Grand Trust, which was settled in 1987 by Edoarda Vesel Crociani for the benefit of Cristiana and her sister, Camilla, and their children. The Grand Trust comprised a valuable portfolio of investments, various receivables and works of art.
As a result of the plaintiffs' claims, the Royal Court has ordered that the Grand Trust be reconstituted by the former trustees, comprising Edoarda Vesel Crociani, BNP Paribas Jersey Trust Corporation and Appleby Trust (Mauritius). Once reconstituted, the trust fund is expected to be worth $200 million.
The decision is the result of five years of litigation, which ran from the Jersey Royal Court up to the Privy Council and back and involved numerous advisers, intermediaries, structures, family members and assets in multiple jurisdictions spanning Italy, Holland, the Bahamas, Mauritius, the US and Jersey.
The plaintiffs' litigation team at Bedell Cristin was led by Advocate Anthony Robinson (pictured) and included Advocate Edward Drummond and Associate Sonia Shah.