Widow, 83, faces off bank in Jersey court.
Ian Brakspear, a Durban-based futures trader, was a longstanding Nedbank client. He was a beneficiary of the JAM Brakspear Trust (JAMBOT), set up by his late father in the Isle of Man to support his widow and their children, and the de facto settlor of the Westley Trust, registered in Jersey. (We say de facto settlor, because Nedbank and its attorneys have – under oath, on different occasions – claimed various different candidates for the role.)
Ian Brakspear was also the sole director of West Dunes Properties 5, a South African company ultimately owned by a Panama-registered company, Westley Holdings, which in turn was supposedly controlled by his Jersey trustees who operated (so he was led to believe) on his instructions.