The Prometheus Trust - PIIL

tony_seah
Mind Map by tony_seah, updated more than 1 year ago
tony_seah
Created by tony_seah over 6 years ago
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The Prometheus Trust mind map.

Resource summary

The Prometheus Trust - PIIL
  1. Trust Funds
    1. Obligation to pay to Ricchezza Limited 2x per month?
      1. Move Funds out of Singapore DBS account to Trustee's HK a/c?
        1. Basis?
          1. Move to?
            1. How much?
              1. Approval by?
                1. When?
                  1. May attract a Freezing Order Application?
                  2. Obligation to pay legal fees
                    1. Past Legal Fees?
                      1. Current Legal Fees?
                      2. Obligation to pay Trustees?
                        1. Past Services?
                          1. Services to unwind the Trust?
                          2. Singapore Assets?
                          3. Legal status ?
                            1. Voidable?
                              1. On terms set by Court.
                                1. Trustee may retain its Fees paid out of the Trust Fund
                                  1. Deputies to undertake not to pursue beneficiaries who have received moneys
                                    1. Change of position defense available to beneficaries
                                  2. Void from start?
                                    1. Asialink Trust Limited - Resulting Trustee
                                      1. Return Trust Fund to Settlor / Deputies
                                        1. Full Amount
                                          1. Defense of quantum meruit
                                            1. Balance of Trust Fund
                                    2. Litigation Representative (GGK)
                                      1. Stay until deputy/ies appointed?
                                        1. Apply to withdraw on grounds of potential conflict of interest?
                                        2. Take directions from the Court?
                                          1. BVI?
                                            1. Judgment of Singapore Court non-binding.
                                              1. Trustee continues to operate in accordance with the Trust Deed and BVI law.
                                                1. Suit by?
                                                  1. Deputies?
                                                    1. Contempt of Court?
                                                  2. Trustee cease operations pending deputies taking legal action.
                                                    1. Suit by?
                                                      1. KBS
                                                        1. Deputy/ies?
                                                          1. Beneficiary (Ricchezza)?
                                                      2. Setting aside of the Trust?
                                                        1. How to do this?
                                                          1. Past Transactions?
                                                            1. Costs impact?
                                                          2. Singapore?
                                                            1. Submission to Court of Singapore?
                                                              1. Indemnification from?
                                                                1. KBS
                                                                  1. Appellants
                                                                    1. Beneficiary (Richezza)
                                                              2. Wait for deputy/ies to commence legal action against Trustee
                                                                1. Completed Transactions
                                                                  1. Charities
                                                                    1. Notify?
                                                                      1. Tracing Rules
                                                                      2. Payments made to
                                                                        1. Lawyers
                                                                          1. Trustee
                                                                            1. Beneficiary (Richezza)
                                                                            2. others? Fund Managers?
                                                                              1. DBS
                                                                              2. Asialink Trust Ltd
                                                                                1. Boardroom Corporate Services (HK) Ltd
                                                                                  1. Boardroom Ltd
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