Saturday, April 16, 2016

Rebecca Lee on the UKSC's Breach of Trust Case, AIB Group (UK) Plc v Mark Redler & Co Solicitors (J of Equity)

"Substitutive compensation for breaches of trust: an irrelevant fairy tale?"
Rebecca Lee
Journal of Equity
2015, Vol. 9 (1), pp 94-101
Abstract: In AIB Group (UK) Plc v Mark Redler & Co Solicitors, a unanimous UK Supreme Court has affirmed the controversial House of Lords decision in Target Holdings Ltd v Redferns. Where there is a breach of trust, an order to reconstitute the trust fund through the traditional accounting mechanism in equity is to be moderated by an express doctrine of causation of loss. The court’s decision to resolve the measure of liability of defaulting trustees in breach of trust through the doctrine of causation has significant impact on the perceived distinction between common law and equitable claims, as well as between different types of equitable claims.  Contact the author for a copy.

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