“An express trust is largely what the draftsman makes of it, so long as his purpose is not illegal, and to the extent constrained by public policy. This elastic concept has, over the past three decades, stretched to a variety of innovative uses in the private and commercial context so that the trust, and the manner of its evolution, has become an emblem of the fluidity of English law.”

Mr Justice Smellie, Chief Justice, The Cayman Islands (pictured right)