How trusts are affected in the event of insolvency of either the trustee or a beneficiary, and the priority of trust claims over other creditors.
Introduction to Trusts: This topic provides an overview of trusts, their history and the different types of trusts that exist.
Requirements for the Creation of a Valid Trust: This topic explains the essential elements that must be present for a trust to be enforceable, including trustees, beneficiaries and the purpose of the trust.
Trustee's Duties and Powers: This topic explores the powers and duties of trustees, including their fiduciary responsibilities, duty to act in the best interests of the beneficiaries and the power to invest trust funds.
Trust Beneficiaries: This topic examines the different types of beneficiaries that may be involved in a trust, including primary, contingent, discretionary and charitable beneficiaries.
Trust Variation and Termination: This topic discusses the circumstances under which a trust can be varied or terminated, including the application of the rule against perpetuities.
Insolvency Law and Procedure: This topic covers the law and procedures relating to insolvency, including bankruptcy, liquidation, and administration.
Priority of Claims: This topic examines the order in which claims are paid in insolvency proceedings, including the rights of secured and unsecured creditors.
Director's Duties and Liability: This topic explores the duties and potential liability of directors of insolvent companies, including the duty to act in the best interests of creditors.
Liquidation and Distribution of Assets: This topic discusses the process of liquidating an insolvent company and distributing its assets to creditors.
Fraudulent and Voidable Transactions: This topic covers the legal remedies available to combat fraudulent and voidable transactions made by directors or shareholders in the lead up to insolvency.
Cross-Border Insolvency: This topic explores the issues that arise when dealing with insolvency proceedings that involve multiple jurisdictions.
Trust and Insolvency: This topic examines the impact of insolvency on trusts, including the enforcement of rights, trust property, and the role of trustees during the insolvency process.
Bare Trust: A trust where the beneficiary has an absolute right to the trust property and the trustee has no discretion in how the trust is managed.
Discretionary Trust: A trust where the trustee has discretion over how the trust property is managed and distributed to beneficiaries.
Resulting Trust: A trust that arises when property is transferred to someone but the transferor didn't intend to gift the property and instead intended for it to be held in trust for them or someone else.
Constructive Trust: A trust that arises when someone holds property under circumstances that imply they are holding it on behalf of another person.
Charitable Trust: A trust that is set up for charitable purposes.
Spendthrift Trust: A trust that is set up to protect a beneficiary's assets from creditors or from the beneficiary himself/herself.
Unit Trust: A trust where the beneficiaries hold their interest in the trust as units, similar to how shares in a company are held.
Testamentary Trust: A trust that is created in a will and takes effect upon the death of the testator.
Blind Trust: A trust where the beneficiary has no knowledge of the trust's assets or how they are managed.
Implied Trust: A trust that arises by operation of law, rather than being expressly created by a settlor.
Insolvency Trust: A trust that is set up to manage the assets of a company that has become insolvent or bankrupt.
Deed of Company Arrangement (DOCA): A type of trust used in insolvency to restructure a company's debt and allow it to continue operating.
Liquidation Trust: A type of trust used in insolvency where the assets of a company are sold off and the proceeds are distributed to creditors.
Creditors' Trust: A type of trust used in insolvency where a trust is set up to hold and manage the company's assets for the benefit of its creditors.