In a recent case, the Guernsey (?) court held that the sole named beneficiary of a trust where there was power to add beneficiaries was the only person interested in the trust and was entitled to apply to the court for a winding up of the trust fund in its favour. Whether r not the settlor had provided a letter of wishes “directing” otherwise appears to have had little relevance.
Whilst this may have been specific to the particular terms of the legislation, I am inclined to the view that unless a person is clearly within the beneficiary class they cannot necessarily be taken to be “a person interested in (the) trust property”, regardless of whether they might be intended to benefit at the end of the day.