200757 Lecture Notes - Lecture 11: Supreme Court Of The United Kingdom, Fiduciary, Equitable Remedy

• School: UWS
• Department: University of Western Sydney
• Course: 200757
• Professor: anonymous

Document Summary

In a constructive trust the defendant breaches a duty owed to the plaintiff. The most common such breach is a breach of fiduciary duty, such as when an agent wrongfully obtains or holds property owned by a principal. A controversial example is the case of attorney general for hong kong vs reid, in which a senior prosecutor took bribes not to prosecute certain offenders. With the bribe money, he purchased property in new zealand . His employer, the attorney-general sought a declaration that the property was held on constructive trust for it, on the basis of breach of fiduciary duty. Ltd v guliver, because there was no interference with a profit-making opportunity that properly belonged to the prosecutor. In the event of the defendant"s insolvency, the trust assets are untouchable by the general creditors. Supporters of lister suggested that there was no good reason to put the victim of wrongdoing ahead of other creditors of the estate.