FEATURES OF THE PROTECTION OF TRUST PROPERTY RIGHTS AND BENEFICIARY INTERESTS: THE EXPERIENCE OF UKRAINE AND THE UNITED KINGDOM

Abstract

The article examines the remedies for the protection of trust ownership rights and the interests of the beneficiary, taking into account the specific legal nature of this institution. It analyses the dual nature of Ukrainian trust ownership, which combines elements of proprietary and obligatory legal relationships, and determines its impact on the formation of a system of legal remedies. The study explores the system of civil law remedies, distinguishing between proprietary and obligatory mechanisms for the protection of trust ownership rights and beneficiary interests in Ukraine and the United Kingdom. It is substantiated that a trustee bears liability not only for breach of contractual terms but also for violation of fiduciary duties, which entails higher standards for assessing the trustee’s conduct. The research further analyses the statutory framework and case law of the United Kingdom governing the protection of trust ownership, with a focus on the interaction between legislation and precedent. Approaches to determining trustee liability for breach of fiduciary duties are examined, and the system of judicial and preventive remedies for the protection of beneficiary interests developed within the doctrine of equity is characterised. Additionally, it is established that in the legal systems of the Anglo-American legal family, trust beneficiaries are endowed with a significantly broader range of remedies. In contrast, Ukrainian national law lacks a clearly defined system of specific remedies, which necessitates reliance on general provisions of civil law that do not always reflect the fiduciary nature of the relevant legal relationships. The article concludes that there is a need to improve legislative regulation in the field of trust ownership through the implementation of certain elements of fiduciary protection characteristic of trust relationships, particularly by expanding the range of remedies and clarifying the standards of trustee liability.