Meritus Trust Company Limited v Butterfield Trust (Bermuda) Limited  Bda LR 82
In October 2017, Chief Justice Kawaley ruled that an outgoing trustee is neither entitled to retain any part of the trust assets as security for its equitable indemnity as former trustee nor demand a contractual indemnity.
This case involved an outgoing institutional trustee who upon being removed (as opposed to having retired) as trustee of two trusts, refused to hand over sizeable trust assets or trust documents to the new trustee without first obtaining a contractual indemnity and retention of assets from the two trusts. This was against the backdrop of a potential breach of trust claim of an approximate value of $5 million. The trust deeds did not confer any express retention or contractual indemnity rights on the former trustee.
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For the third year running, MJM Director Fozeia Rana-Fahy has been listed as one of the Top 200 international Powerwomen by Citywealth. The list honours 200 of the most powerful women in government, private wealth, education, private client advisory and philanthropy across the international financial centres (IFCs). The IFC Powerwomen Top 200 list focuses on influencers as well as professionals and celebrates powerful women from diverse backgrounds. It recognises women of achievement who are trailblazers in their field, helping to promote business excellence in their home jurisdiction and consolidating the reputations of the financial services industry globally.
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Research for Chambers Global 2018 has finished and, in an advanced ranking announcement from this Monday, the global law firm rating agency disclosed that several MJM attorneys will be featured as “Leaders in their Field” and that MJM Limited will be ranked in the forthcoming edition of Chambers Global Guides.
The “Leaders in their Field” list of names was released and we are proud to recognise the following for their achievement:
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Jeremy Leese and Brian Holdipp, members of MJM’s Corporate Department, will be attending London International Shipping Week in early September, as part of a Bermuda delegation which includes The Hon. Walter Roban, JP, MP, Minister of Transport, and Ross Webber, CEO of the Bermuda Business Development Agency (BDA).
As part of the week’s programme, the BDA will be hosting a Bermuda Reception on the evening of Monday, 11th September 2017. If you are interested in attending, please contact Jeremy Leese (e-mail: firstname.lastname@example.org) for an invite to the event.
In addition, if you are in London, and wish to meet Jeremy and Brian outside of such event to discuss any legal matters with which the firm may assist you, they may have time on Monday (11th Sept) or Wednesday (13th Sept) to visit your offices. Please contact Jeremy via e-mail if you would like to schedule a meeting.
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Samuel Martin was called to the Bermuda Bar on 17 August 2017 by the Hon Chief Justice Ian Kawaley. Sam’s call to the Bar was moved by his Dad, Andrew Martin, and seconded by his uncle, Peter Martin, who are both shareholders and directors of MJM Limited. Sam went to Warwick Academy until the sixth form, when he transferred to the Bermuda High School to complete his IB studies. Sam is a keen musician and performed regularly as a member and then leader of the Menuhin Youth Orchestra when he lived in Bermuda. Sam then went to the University of Swansea to read mechanical engineering, and then changed to read law, graduating with an upper second class honours degree. Sam then completed the Postgraduate Diploma in Professional Legal Practice (LPC) at the University of Law at Guildford, Surrey, before undertaking his training contract at Cheyney Goulding LLP in Guildford. Sam was admitted to the Law Society as a solicitor of the Senior Courts of England and Wales on 15 February 2017. Sam is now junior in house counsel at a media distribution company in London.
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