The Institute of Trust in Private International Law: Features of Legal Regulation

The thesis is devoted to a comprehensive analysis of the trust from the Private International law perspective in order to assess the development prospects of this institution in the Russian Federation. The research is focused on the comprehensive analysis of international trusts legislative regulation based on the comparative study of how this institute is regulated in different countries. The paperwork also addresses some theoretical issues such as the main features and elements of the institute of international trust, the historical development of its creation and regulation, as well as the role and significance of the Hague Convention. The work consists of an introduction, the main body in three chapters (each of which includes three paragraphs) and a conclusion. The first chapter is devoted to the general theoretical aspects of trusts such as past and present of their regulation, their main characteristics, as well as the mechanism for establishing trust and requirements levied on a person who is willing to become a party to an international trust. The second one includes the analyses of judicial practice and legislative regulation of international trusts in foreign countries (both Common law and Continental law ones) before and after the Hague Convention adoption. Finally, the third chapter is about the institute of international trust in the Russian Federation. It is divided into parts on comparative analysis of analogous institutes existing in Russian current legislation, features of international trusts recognition by Russian courts and anticipated prospects for the legislation development. As a result of the analysis the following conclusions have been made: • Trusts historical development can be divided into four stages; • Prior to the 1985 Hague Convention adoption, courts of the Continental law countries tried to assimilate trusts with other institutions; • The 1985 Hague Convention is a significant agreement that helped build a ‘bridge’ between Common law and Civil law; • At the moment, there are no institutions in Russia that are equivalent to the International or English model of trust; • Russian individuals or legal entities cannot establish a trust in Russia, but are allowed to become founders or beneficiaries of an international trust; • One of the effective ways of development of trusts regulation in Russia is the adoption of the 1985 Hague Convention.