
Cy-près distributions in class actions
Cy-près trust distributions have become a common feature of class action settlements. As originally conceived the cy-près doctrine empowered a court of equity to amend the terms of a trust where the original objective of the settlor or testator became impossible, impracticable or illegal. The term translates to “as near as possible” which reflects the nature of the court’s remedial equitable role. In the context of class actions the doctrine has commonly been applied where t