IMG Trust Limited

IMG Trust Company is an independently-owned trust company.

Established in 2022 by industry-leaders in the Cayman Islands – Peter Goddard and Maxine Bodden Robinson, it isCIMA-regulated and licensed, specialising in ultra-high-value, complex clients. IMG’s areas of specialism include contentious trusts, philanthropic trusts and foundations and trusts encompassing complex structures and/or large operating businesses.

IMG’s international expertise covers involvement with tax structuring, the selection of capable investment managers and appropriate investment strategies, compliance and regulatory reporting, and litigation case management, catering to families from the USA, Europe, Latin America and the Middle East.

IMG has seen rapid growth in the two years of operation, increasing staff from two to five, with the inclusion of a Chief Operations Officer.

The total value of trusts managed by IMG Trust is in the US$ billions.

Key personnel

·Managing Director: Peter Goddard

·Deputy Managing Director: Maxine Bodden Robinson

·In- house Counsel: Abigail Goddard

·Senior Vice President of Accounting- Avinash Luckhun

·Number of Partners: 2

·Number of Fee-Earners: 5

Contact details

+1 345 746 2660

[email protected]

Citrus Grove, Ground Floor, 106 Goring Ave, George Town, Grand Cayman, PO Box 10293, KY1-1003

Specialisms

Contentious Trusts

Specialising in litigation involving trust validity, asset recovery, divorce-related claims, and cross-border proceedings, IMG has extensive experience with contentious litigation that directly or indirectly concerns client trusts. These are broad in their scope but range from challenges to the validity of trusts (challenges made, for example, by tax authorities and/or beneficiaries), challenges to the validity of the transfer of assets into trust, and the recovery of assets which have been misappropriated by third parties in breach of trust claims.

Led by principals with significant legal expertise, IMG is able to drive litigation and to manage groups of lawyers worldwide to ensure that client trusts are well represented and receive the justice to which they are entitled.

Peter Goddard was involved in the Cayman Islands’ landmark Hasting Bass decision which upheld the ability of trustees to seek court orders to reverse negligent actions by a trustee that have far-reaching negative consequences for the trust. More recently, in 2023, IMG retained its appointment as a ‘replacement trustee’ on a multi-billion dollar trust involving litigation proceedings in Bermuda, UK, USA, and Cayman. Contentious trust administration of this nature requires not only case management skills, but the ability to manage numerous law firms, provide them with clear instructions and (in some cases) suggest an alternative approach to that advised.

Philanthropy

IMG offers comprehensive services designed to help clients achieve their charitable goals effectively. Their expertise includes strategic philanthropy planning, grant making, milestone setting, and impact assessment, with significant experience in scholarship programmes and medical and mental health research with top universities.

In the charitable sector, IMG uses a unique grant model, targeting strategic grants to elevate small mental health charities to national service providers, involving larger grants and active involvement. It actively manages some of the most significant charitable grant and donation programmes currently in operation in the USA.

IMG also acts as directors of a foundation with a $400 million fund to donate toward medical research aimed at the treatment and elimination of neurodegenerative conditions, such as Alzheimers and dementia. This involves working with some of the leading academics in the US, including a Nobel prizewinner. With the assistance of AI technology, IMG’s hope is that there will soon be a time when the world will be free of these life-altering afflictions.

Complex Trust Structures and Business Assets

IMG specialises in multi-asset trusts, especially those involving family-run businesses. The principals works closely with families to establish safeguards for business continuity and potential exit strategies.

Many IMG clients possess diverse investments and assets, including lifestyle assets, physical assets, and investment assets. This diversity necessitates expertise in multi-jurisdictional tax advice, compliance reporting, and investment performance monitoring across all asset classes.

Maxine Bodden Robinson was involved in a complex case where the trustee successfully brought a category two Public Trustee v Cooper application. This type of application seeks the court's 'blessing' for a 'momentous' decision proposed by the trustees. Additionally, the case included an application to vary the trust, marking the first time the Cayman Islands court applied the ‘no detriment’ test, which was introduced by an amendment to section 72 of the Trusts Act in 2019.

IMG addresses the unique challenges of family-owned business wealth, particularly during generational transitions, by developing family charters and tailored solutions for multi-generational families.

Other services

·Trusts

·Foundation Companies

·Protector and enforcer service

·Replacement or court- appointed trustee

·Corporate services- entity formation and administration

·Tax compliance and regulatory reporting

·Investment reporting

·ESG

·Luxury assets- aircraft and yachting services

·Other assets- real estate, operating businesses