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Trustees: Tracing and the rule in Clayton’s case
Mark Pawlowski takes a critical look at the rule in Clayton’s case and asks whether it still has application in the context of a tracing claim A rigid application of Clayton’s case, although providing a rule of convenience, can produce results of a highly arbitrary nature. Where a trustee (or other fiduciary) wrongfully purchases an …
Cases Referenced
Cases in bold have further reading - click to view related articles.
- Charity Commission for England and Wales v Framjee & ors [2014] EWHC 2507 (Ch); [2014] WTLR 1489 ChD
- Clayton's Case (Devaynes v Noble) (1816) 1 Mer 572
- Commerzbank AG v IMB Morgan plc & ors [2004] EWHC 2771 (Ch); [2005] WTLR 1485 ChD
- El Ajou v Dollar Land Holdings plc [1995] 2 All ER 213
- Greymac Trust Company v Ontario Securities Commission (1988) 52 DLR (4th) 767
- Re Diplock's Estate [1948] Ch 465
- Re Eastern Capital Futures Ltd [1989] BCLC 371
- Re French Caledonia Travel Service Pty Ltd [2003] NSWSC 1008
- Re Hallett’s Estate (1880) 13 Ch D 696
- Re Ontario Securities Commission and Greymac Credit Corp (1986) 30 DLR (4th) 1
- Re Walter J Schmidt & Co, ex p Feuerbach (1923) 298 F 314
- Russell-Cooke Trust Co v Prentis [2002] EWHC 2227 (Ch); [2003] WTLR 81 ChD
- Sheppard v Thompson (2001) unreported High Court December 3
- Sinclair v Brougham [1914] AC 398
- The National Crime Agency v Robb [2014] EWHC 4384 (Ch)
- Vaughan & ors v Barlow Clowes International Ltd & ors [1992] 4 All ER 22