Tasarruf Mevduati Sigorta Fonu v Merrill Lynch Bank and Trust Co (Cayman) Ltd and Others  UKPC 17,  BPIR 1743 (Privy Council, Lord Hope, Lord Mance, Lord Collins, Lord Clarke and Lord Reed, 21 June 2011)
TMSF obtained judgment against D in the sum of US$30m. D was later made bankrupt. TMSF subsequently learnt that D had established two discretionary trusts in the Cayman Islands with assets of some US$24m, in respect of which D had a power of revocation of the trusts, with the consequence that he could re-invest in himself an amount which would satisfy a very large proportion of the judgment debt.
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