ABSTRACT
This article discusses the recent decision of the Hong Kong Court of Final Appeal in Zhang Hong Li and others v DBS Bank (Hong Kong) Limited and others that has rejected the idea of a ‘residual’ or ‘high-level supervisory’ obligation upon trustees and accordingly endorsed the effectiveness of a well-drawn anti-Bartlett clause that sought to exclude any obligation upon the trustee to intervene in the management of an underlying company other than in the case of actual knowledge of dishonesty.
Ray Davern, Trustee residual obligation: no basis for it, Trusts and Trustees, https://doi.org/10.1093/tandt/ttz129. Published: 28 December 2019.
First posted 2020-01-01 08:21:19
Leave a Reply