Offshore focus – Bahamas
As a general proposition, trustees must keep the affairs of the trust confidential,
1 as well as personal information relating to beneficiaries, as part of the law relating to breach of confidence.
2 There also exists a corresponding fiduciary duty arising out of the relationship that ensures that the affairs of the trust
be kept confidential. There are even instances where a trustee is not required to disclose information to the beneficiaries
themselves as established by common law principles. These have now been expressly codified,
3 which limits the rights of beneficiaries to demand disclosure of information as well as giving a trustee the right to exercise
their absolute discretion to not disclose certain information as set out therein. However, what happens when a trustee is
faced for a demand for information from a third party and how are these mechanisms employed and scrutinised by the offshore
courts. This article focuses on The Bahamas as one such jurisdiction.
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