INTERNATIONAL PRIVATE CLIENT
Family Office Series
20 Jul 2022
Family Office Dispute
In this Wealth Talks, two related aspects will be considered: (a) best practice governance safeguards and precautions to avoid internal Family Office disputes, and (b) where a dispute does occur, best practice dispute management processes and procedures.
I shall again be joined by David Brownbill QC of XXIV Old Buildings. David is a leading King's Counsel and has been involved in some of the most prominent recent international trust cases, including the Privy Council decisions in Schmidt vs. Rosewood and Crociani vs. Crociani. David and I will discuss Family Office Disputes.
We shall evaluate both an "Unstructured Family Office", where the family retain direct personal share ownership of the Family Office and a "Structured Family Office" where the Family Office is held by a trust.
When considering an Unstructured Family Office, we shall evaluate the principal governance and dispute management tools available: (a) Shareholders Agreement and (b) Share Class Rights or Article Amendments. We shall evaluate the pros and cons of each option, and how they may be made to work together.
When considering a Structured Family Office, we shall evaluate the options available to a settlor in designing the governance framework of a Family Office Trust, and will critically examine the use of the following dispute management tools and/or remedies in the context of a trust:
(a) Arbitration Clause
(b) Exclusive Jurisdiction Clause
(c) No Contest (Sinatra) Clause
(d) Restricted Rights of Access to Information
(e) Bartlett Clause
(f) Trustee Removal
We shall end the talk with a summary of best practice guidance in the creation and administration of a suitable Family Office governance framework that will help to ensure the long-term success of the Family Office.
XXIV Old Building
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EXPLORE WEALTH TALKS
Governance & Succession
Family Office Series
The Governance & Succession series of talks is designed to bring together industry experts to explore the challenges and opportunities faced by business families when considering governance and succession to the family business.
The emergence of the Single Family Office is also explored, along with the need for families as well as business professionals to understand the need for robust family office governance and succession plans.
Private Client Series
The private client series of talks bring together senior industry practitioners to gain insight and understanding on legal, tax and private wealth issues facing HNW individuals and clients across Asia, particularly in light of the continuing COVID-19 crisis.
In each talk, we shall consider the application of one country's divorce, succession and matrimonial property laws both within the country and also where there is an International element.