Recent Applications of the Rule in Cherry v Boultbee (or Jeffs v Wood)

9 Pages Posted: 4 Jun 2015

See all articles by Lee Aitken

Lee Aitken

The University of Hong Kong - Faculty of Law

Date Written: 2010

Abstract

The rule in Cherry v Boultbee (1839) 4 My & Cr 442 is a commonsense rule of fairness. If you wish to share in a fund, you must first restore any benefit you have had from it. The principle originated in proceedings to do with wills and estates but is equally applicable in a company law context when a claimant wishes to share in a dividend to be paid by an insolvent entity. Recent case law illustrates that although the rule is simple to state, its application in a particular corporate insolvency (particularly when overlaid by co-existing obligations of suretyship) may give rise to complex and difficult issues. This article examines the recent authority in the light of the classic decisions on the topic.

JEL Classification: k00

Suggested Citation

Aitken, Lee, Recent Applications of the Rule in Cherry v Boultbee (or Jeffs v Wood) (2010). Australian Law Journal, 84 3: 191-198, 2010; University of Queensland TC Beirne School of Law Research Paper No. 15-45. Available at SSRN: https://ssrn.com/abstract=2611461

Lee Aitken (Contact Author)

The University of Hong Kong - Faculty of Law ( email )

Pokfulam Road
Hong Kong, Hong Kong
China

HOME PAGE: http://hub.hku.hk/rp/rp01235

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