Trusts across borders: steering through the EU's insolvency directive and its implications for trustees.

Mak, Charles Ho Wang

Abstract

This article delves into the multifaceted roles and responsibilities of trustees in cross-border insolvencies, with a spotlight on the EU’s proposed directive aiming to harmonise insolvency law. It acknowledges the unique position of trustees who, while not forming an insolvency-prone entity, are personally liable and entitled to an indemnity from the trust assets. The article will explore the complexities arising from the interplay of insolvency law and trust principles revealing potential challenges and opportunities. It offers practical guidance for navigating this evolving landscape while emphasising the careful consideration of trustees’ fiduciary duties.

Citation

MAK, C.H.W. 2023. Trusts across borders: steering through the EU's Insolvency Directive and its implications for trustees. Journal of international banking law and regulation [online], 38(10), pages 387-391. Hosted on Westlaw. Available from: https://uk.westlaw.com

• Journal Article Type: Article
• Acceptance Date: Sep 22, 2023
• Online Publication Date: Sep 22, 2023
• Publication Date: Oct 31, 2023
• Deposit Date: Sep 23, 2023
• Publicly Available Date: Sep 23, 2024
• Journal: Journal of international banking law and regulation
• Print ISSN: 1742-6812
• Publisher: Sweet and Maxwell
• Peer Reviewed: Peer Reviewed
• Volume: 38
• Issue: 10
• Pages: 387-391
• Keywords: Corporate insolvency; Cross-border insolvency; EU law; Insolvency practitioners; Pre-pack administrations; Trustees' liability; Trustees' powers and duties
• Public URL: https://rgu-repository.worktribe.com/output/2086615
• Publisher URL: https://uk.westlaw.com