ABSTRACT
This chapter reviews the burgeoning global fiduciary services promotion of ownerless entities, sold expressly to those wanting to be held wholly unaccountable. It outlines “orphan structures” in their jurisdictional context and examines how they are further privileged in terms of immunity from lawsuit, absence of public registration, impunity concerning fraudulent transfers of property and protection against “whistle-blowers”. The immunities and privileges offered to “orphan structures” are as significant in the context of debating whether “ownership” is an effective regulatory marker as are the very characteristics of the “orphan structures” themselves. An “orphan structure” both by definition and by design has no owner, at least as far as the law of the jurisdiction in which it exists is concerned. The beneficiary has no rights of ownership in law over the property, and the trustee has no right to benefit from the property either in law or in equity. The beneficiary has an expectation that in equity they will receive the property.
