thethunderer
Well-Known Member
DK can almost certainly influence what NOAL invests in but he cannot directly control the trust as it has independent directors.
Independent directors have a duty to all beneficiaries and are at risk of being sued if they use the funds improperly.
A huge tax payment could be crystallised if funds from the trust is moved into escrow so I would imagine independent directors would not risk doing this.
I have offshore trusts myself and know this is a strong possibility.
This is an excellent post.
Dave King is a beneficiary of the trust, not the trustee. Depending on the type of trust it may well be that it is at the discretion of the trustee to release the trust income and capital. The trustee has a fiduciary duty to do this wisely and independently of Dave King. The interests of any other beneficiaries must be taken into account.