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A recent High Court decision has considered the principles the court will apply when deciding whether a party owed a fiduciary duty in circumstances outside of the well-established categories of fiduciary relationships and in the absence of an explicit undertaking. The judgment suggests that such cases will be exceptional or at least uncommon: Kelly & … Read more
The circumstances in which the English courts can grant permission to serve civil claims out of the jurisdiction will soon be expanded substantially, including a number of changes that could potentially make it easier to pursue cross-border fraud actions in some cases. A suite of proposals to amend and add to the existing list of … Read more
In an appeal against two High Court decisions, the Court of Appeal has found that a fiduciary relationship is not a necessary pre-condition to relief in respect of an undisclosed commission paid to an agent. Instead, the court should determine whether the agent was obliged to provide information, advice or recommendation on an impartial or … Read more
In a recent decision, the High Court refused the defendant financial advisers and agents permission to call expert evidence of financial market practices in relation to an allegation that they had acted dishonestly: Carr v Formation Group Plc [2018] EWHC 3116. The court noted that the standard of honesty is an objective one, and it … Read more
Who is the rightful owner of a bribe? Is a bribe or secret commission received by an agent “held on trust” for his principal? Or is the principal’s claim against the agent a personal one for equitable compensation equal to the value of the bribe or commission? The issue is of critical importance. It affects … Read more
Some, if not quite born trustees, are appointed as such at the outset of a trust. Some achieve trusteeship at some later stage. And some have some aspects of trusteeship thrust upon them. Within this third category are strangers to a trust who “dishonestly assist” an express trustee in a breach of the trustee’s fiduciary … Read more
