Fiduciaries 0.0 / 5 ? LawEquityUniversityNone Created by: LaraCreated on: 30-04-19 15:25 Bristol &West BS In this case Millet said fiduciaries have the duty of loyalty 1 of 18 Barclays Bank v Quistclose Inv 1970 where money is loaned for a specific purpose, borrower has a fiduciary relationship 2 of 18 Hooper v Garvin 2001 some form of undertaking and rliance by placing propeerty/confidence makes a fiduciary relationship 3 of 18 IDC v Cooley Remedies; Account (personal remedy) 4 of 18 Foskett v McKeown 2001 Remedies: Remedial Constructive Trust where property goes up in value 5 of 18 Tang Man Sit v Capacious Inv 1992 Remedies: Equitable compensation, where property decreased in value 6 of 18 Bray v Ford 1896 Fiduciary cannot make profit or put himself in the position of conflict of interest 7 of 18 Re Duke of Nortfolk's Settlement Trusts 1982 Court has inherent jurisdiction to give exress authority to trustee for charges 8 of 18 Keech v Sandford 1726 Example of conflict of interest: Rule in Keech, a turstee cannot retain the benefit of a renewed lease (baby's lease case) 9 of 18 IDC v Cooley 1972 Example of conflict of interest: Secret Profits, faked illness, resigned and took new job 10 of 18 Boardman v Phipps 1965 KEY CASE! Examples of conflict of interest: Misuse of opportunities and information, low threshold of 'mere possibility of conflict of interest' 11 of 18 Regal Hastings v Gulliver 1942, Guiness v Saunders 1990 Followed low threshold as in Boardman 12 of 18 Murad v Al-Saraj 2005, Foster Bryant v Bryant 2007 Said its time to start following the high threshold as otherwise this stops trustees being able to make use of corporate opportunities 13 of 18 Peso Silvermines v Cropper 1966, Consul Development v DPC Estates 1975, Queensland Mines v Hudson 1978 foreign jurisdictions that followed the high threshold 14 of 18 Re Macadam 1946 Examples of conflict of interst: Director Fees 15 of 18 Williams v Barton 1927 Examples of conflict of interest: Commission Fees 16 of 18 Campbell v Walker 1800 Examples of conflict of interest: Self-dealing 17 of 18 Cotes v Trecothick 1804 Examples of conflict of interest: Fair-dealing 18 of 18
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