Peter Steen, Partner and Emilia Piskorz, Associate in Mishcon Private explore the shift in the approach of the courts, both onshore and offshore, to privacy in the context of trust applications. In their article they conduct a review of a number of recent cases in Bermuda, Cayman, Jersey and England, with a particular focus on the recent English case of MN v OP, and consider whether there is a distinction between the various courts in their approach.
The past few years have seen a paradigm shift in how trust structures are perceived, particularly those located offshore. The perception being that offshore trusts are associated with tax evasion and money laundering. Subsequently, a number of high profile political casualties have occurred alongside press reporting and public response following the Panama and Paradise Paper leaks.