Since there is no likely Pali Leadership to emerge here.
True. The west tried to hold free and fair elections to let the Palestinian people decide who they wanted to lead them under international supervision. These elections were internationally recognised to have been both free and fair but the only problem was that the Zionists didn't get the result they wanted; Fatah lost, Hamas won. Fatah was then told to engineer a coup (which would have failed had the Zionists not stepped in). Now we have Hamas and Fatah at each other's throats; a result the Zionists can live with as there's no-one they need "negotiate" with, but then the Zionists have never wanted to negotiate anything, peace means they won't be able to expand any more and might actually be forced to give up some land.
Not interested in how Fatah goes to Civil War on the instructions of their "Zionist masters"..
Fact is -- the ONLY HOPE for a sovereign Palestine is if it's done FOR THEM and held in trust until they get their act together and decide that the FUTURE is more important to their kids than the past...
Who is going to do "the doing for them" and the "holding in trust"? Do the Palestinians get a say in deciding that? Once upon a time, what you are suggesting was called a "Mandate". The opinions of the Palestinians were ignored then as well and my, didn't that work out well for everyone?
The Protectorate would be administered by "the neighborhood" with cooperation from the entire Arab League. So the answer is the governments of Jordan, Egypt, Lebanon, (Syria) and Israel. No need for any law and order under the SOLE jurisdiction of Israel. I'm sure that Western countries would be falling over themselves to help with support and infrastructure development in a project designed to BUILD a Levant trade hub with Palestine as the center of it.
When and if the Palestinians step up -- they can supply municipal, regional leadership for the first 10 years. Palestinians NEED to endorse a plan that gives them economic life and security and stop fighting over who is the baddest ass when it comes to claims on Israeli land.
It's one of those "home makeover" TV reality shows. But on a slightly larger scale.

If they DON'T respond to a genuine display of world-wide aid and assistance in creating a homeland -- then they are permanently fucked.