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A trust may be challenged by means of “azione revocatoria”
- 06/08/2017
A trust requires a trust instrument and one or more acts for the transfer of the property at issue to a trustee. When such acts harm the interests of the creditors, they may be challenged by means of “azione revocatoria”.
With Judgment no. 19376/2017 of 3rd August 2017, the Court of Cassation has explained that in order to establish whether or not a trust is free, one has to consider the purpose of that trust.
In the case at issue, such purpose was to shield the property of the settlors and so to make it more difficult for their creditors to seize their assets. In particular, the trust under scrutiny was certainly free in that the settlors did not receive anything in exchange for it.
Therefore, that trust could be challenged by means of “azione revocatoria” by those creditors of the settlors who were damaged by its creation.
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