The only two trustees of a public trust created an extensive system of holdings (including through two companies registered in Panama) and ended up with a private company from which they received a high salary.
The Court held that this was a prohibited distribution due to beneficiaries serving as trustees of the trust. Except when it comes to remuneration paid for the performance of his duties or with the approval of the Court, a trustee is not entitled to remuneration for the performance of his duties, except if its fulfillment was one of his occupations. Furthermore, the trustee is prohibited from deriving profit or other benefit from the trust assets. In a public trust the trustee is entitled to receives a salary of up to a ceiling of 5% of the trust's annual revenue. Here, the only trustees of the trust, which one of which assets was a private company, received consideration from such company. Therefore, this is a prohibited distribution and the trustees are to return the sums that exceeded 5% of the proceeds of the trust.