Former Georgian Prime Minister asks Guernsey court to terminate trust

Tuesday 21 March 2023

The former Prime Minister of Georgia is applying to Guernsey’s courts for its permission to wind up a locally administered trust.

Bidzina Ivanishivili and other beneficiaries of the Green Vals Trust have filed a civil suit against Credit Suisse Trust Limited last year.

He has also requested that the trust is terminated for minor or unborn beneficiaries, and that the requirement for consent to terminate the trust is waived. 

The application is being made under section 69 of the The Trusts (Guernsey) Law, 2007. 

Credit Suisse Guernsey was appointed the trustee at the end of 2020, having been previously handled by the New Zealand office. 

Deputy Bailiff Jessica Roland will give judgment on Friday 24 March.