Rathbone Brothers is reviewing the latest judgement in its ongoing Jersey trust legal dispute after the latest ruling.
The case is centred on a legal claim filed against a former director of Rathbone Brothers.
It relates to the management of a Jersey trust, and at the beginning of 2012 the claim was filed against the former director of Rathbone Trust Company Jersey Limited (RTCJ), which Rathbones owned between March 2000 and October 2008.
The claim was filed because one of the assets in the trust did not perform as well as expected, although Rathbones did not select or manage any of the investments itself.
Of the latest judgement handed down involving Rathbones' case against some of its civil liability insurers, it said the issue of coverage was dealt with.
Rathbones said the judge ruled in its favour on all "the substantive coverage points on the insurance policy, confirming that the employee was covered by the policy in respect of liability for the wrongful acts alleged in the Jersey proceedings".
However, he also ruled that the insurers should have a right of subrogation whereby they could, upon payment of any sums to the employee, take over any rights of action which the employee might have against Rathbones pursuant to an indemnity granted to him by Rathbones and RTCJ.
Rathbones said it is now "reviewing the judgment" and "considering its potential implications with its Counsel and other advisers".
It added: "[We] will be deciding in the near future whether or not to appeal against certain aspects of the judgment. A further announcement in this regard will be made in due course."
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