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Falsifying the Trust Account and Compensatory Equitable Compensation

Forthcoming in Simone Degeling and Jason Varuhas (eds.), Equitable Compensation and Disgorgment of Profit (Oxford: Hart, 2016)

NUS Law Working Paper No. 2016/003

24 Pages Posted: 7 Mar 2016  

J.E. Penner

National University of Singapore (NUS) - Faculty of Law

Date Written: March 6, 2016

Abstract

The scope of decision of the United Kingdom Supreme Court in AIB Group v Mark Redler & Co will only be understood in view of its treatment in subsequent decisions, but it is submitted it is frail authority for the view that a beneficiary will be unable to falsify the trust account where property has been misappled. In this paper it is contended, first, that an alternative analysis of the facts in AIB Group indicates that the case was, plausibly, wrongly decided. Second, the uncertain ratio of the case will be examined to point out fact situations where the case should not be followed.

Keywords: Equity, Trusts and Trustees, Breach of Trust, Liability to Account, Falsifying the Trust Account, Equitable Compensation, AIB Group v Redler

Suggested Citation

Penner, J.E., Falsifying the Trust Account and Compensatory Equitable Compensation (March 6, 2016). Forthcoming in Simone Degeling and Jason Varuhas (eds.), Equitable Compensation and Disgorgment of Profit (Oxford: Hart, 2016); NUS Law Working Paper No. 2016/003. Available at SSRN: https://ssrn.com/abstract=2742948

James Penner (Contact Author)

National University of Singapore (NUS) - Faculty of Law ( email )

469G Bukit Timah Road
Eu Tong Sen Building
Singapore, 259776
Singapore

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