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4 Cards in this Set
- Front
- Back
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Lister v Stobbs |
Factory making cloth in Bradford. Foreman took bribes from supplier to continue using that supplier. Boss found out and tried to recover the bribes. In this case, the court couldn't come up with an imposed constructive trust because there was no proprietary base |
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AG of Hong Kong v Reid |
Privy council decision conflicting with Lister case. Lawyer went to HK to get appointed as acting DPP. When in this position he begins to get bribed for deciding whether to continue certain criminal prosecutions. He accumulated over 12million HK dollars. Lawyer's accounts didn't show this money (he hid it). He did have three property in NZ (one in his wife's name and 2 in his solicitor's name). This was crucial for HK g'ment to establish a claim. 'When a bribe is offered and accepted in money or in kind, the money or property constituting the bribe belongs in law to the recipient. Money paid to the false fiduciary belongs to him. The legal estate in freehold property conveyed to the false fiduciary by way of bribe vested in him. Equity, however,which acts in personam,insists that it is unconscionable for a fiduciary to obtain and retain a benefit in breach of duty…The false fiduciary who received the bribe in breach of duty must pay and account for the bribe to the person to whom that duty was owed' |
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Sinclair Investments v Versailles |
Dealt with HK case which had become very controversial (people were concerned with high levels of discretion given to judges). The court in this case commented that even if a fiduciary duty had been established in this case, they may not have actually recognised a constructive trust. The CA is not bound by the Privy council. |
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FHR European Ventures LLP v Cedar Capital Partners LLC |
Supreme Court affirmed decisions in HK. Lord Nueberger was on CA in Sinclair where he said a constructive trust could not be created but since was promoted to the Supreme Court and in this case said that a constructive trust could be created. The Supreme Court said that money paid on bribe was not something the fiduciary should have received to start with (so creditors never would have got away with it). In the case of bribes it appears the courts are imposing remedial constructive trusts. |
