WebThese funds may be in the form of cash, stocks, bonds, securities, insurance benefits etc. Unclaimed assets are reported in the name or social security number of the unclaimed … WebFeb 3, 2024 · The Court of Appeal has held that a claim in knowing receipt will fail if, at the moment of receipt, the beneficiary’s equitable proprietary interest is destroyed or overridden so that the ...
Knowing receipt: the ‘continuing proprietary interest’ - OUP Academic
WebThis sets out the three requirements for a knowing receipt claim: 1) Disposal of assets by T in breach of fiduciary duty2) Beneficial receipt of traceable assets by D3) Knowledge by D that the assets he received were in breach of T’s duty 10 … WebRefers to the cause of action under which a non-trustee becomes personally liable for breaches of trust committed by one or more trustees. Liability arises where the non-trustee is an accessory to the breach of trust (whether by inducing or assisting in the breach) and has acted dishonestly. The test of honesty in this context is objective. shock therapy vs eibach
Dishonest assistance Practical Law
WebJan 8, 2001 · Later, the company, acting by its liquidator, sued Chief Akindele both for knowing receipt of the misapplied funds and for dishonestly assisting their misapplication. The High Court dismissed the claim for dishonest assistance: the company could not prove that Chief Akindele had been dishonest. There was no appeal against this ruling. WebMar 2, 2024 · The Court of Appeal has dismissed a knowing receipt claim against a bank for receipt of shares, which were transferred to the bank in breach of trust, on the basis that the claimant did not have a continuing proprietary interest in the relevant shares: Byers & Ors v The Saudi National Bank [2024] EWCA Civ 43. The decision provides helpful clarification … WebOct 19, 2024 · Claims for knowing receipt (sometimes also known as ‘unconscionable receipt’) and for dishonest assistance are sometimes referred to as ‘accessory liability’ in … shock therapy vs gradualism