Private Trust Companies – The Best of Both Worlds was the topic of BVI House Asia’s trust seminar, held this afternoon at
the Hong Kong General Chamber of Commerce’s Conference Room.
The seminar, attended by more than 80 lawyers, trust practitioners and other financial services experts, examined why private trust companies (PTCs) are so popular, various structuring issues which those setting up PTCs should take into consideration, and the pitfalls to be avoided when setting up and administering PTCs.
The seminar’s main presenter, Christopher McKenzie, a partner in the London office of the BVI firm of O’Neal Webster, was the founding chair of STEP in the BVI and is the author of most of the BVI's leading texts on trusts and estates.
Other trust experts on hand for a panel discussion following McKenzie’s presentation included Richard Grasby a partner from Maples and Calder Hong Kong, who advises institutional trustees and private individuals on all areas of trust law and related private wealth issues; Thelma Kwan a practising barrister at law in Hong Kong, specialising in trust probate and matrimonial contentious matters; and Michael Shue, Executive Director of Vistra Trust Services, a lawyer with 20 years experience involved in corporate and trust structures to assist clients with asset protection, estate and family succession and tax planning.
Director of BVI House Asia, Elise Donovan, said she was pleased with the good turnout and in the keen interest of the attendees in learning more about BVI’s PTCs. Attendees commented that they found the seminar both engaging and informative.
The BVI House Asia trust seminar preceded STEP (Society of Trust and Estate Practitioners) Asia, held in Hong Kong November 1st and 2nd under the theme, Advising Families Across Generations.
BVI Finance is a sponsor and has a booth at STEP Asia, which is also being attended by several BVI-based practitioners. BVI’s Jonathan Bailey of Nerine Trust is also a presenter on the second day of STEP, on the panel on PTCs – You get what you pay for.