Author: Jenny McKeown and Arabella Saker (1999)

Jenny McKeown and Arabella Saker

Allen & Overy

(From Issue 9, October 1999)

It is extremely difficult in a commercial and competitive business such as the professional trustee industry to identify potentially dangerous situations before they occur.  In this article, we take a lighthearted look at some of the more common dilemmas which a trustee may encounter.  However, the purpose of this article is not to suggest that any of the trustees concerned were inept (as the saying goes, “there but for the grace of God go I”).  In almost all of the cases set out below, the trustees concerned were reputable, professional trustees. It is intended to highlight how trustees may be able, even when under pressure or facing a difficult enquiry, to respond in a way which reduces the possibility of a mere risk becoming a reality.