Landmark Privy Council decision on the scope and ranking of trustees’ indemnity

In October 2022 the Privy Council finally handed down judgment in the Z Trust (II) appeals (ETJL v Halabi; ITGL v Fort Trustees [2022] UKPC 36). This decision concerns the hitherto under examined (and rather dull) topic of the nature and scope of the right of a trustee to recover liabilities and expenses from the trust assets.

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