Tang v Tang & ors
 [2018] WTLR 1019

Wills & Trusts Law Reports | Autumn 2018 #173

T died intestate. D1, one of the administrators of T’s estate, purchased a property using estate funds to cover around 40% of the purchase price, without informing P, one of the beneficiaries of the estate. Soon after completion of the purchase, D1 repaid the money to the estate, with interest at a rate that he selected, labelling the transaction as a loan. Later, when the property’s value had increased, P became aware of D1’s actions and brought proceedings to recover the profit made by him.

Held

D1 was a fiduciary who had made a profit by the application of his principal’...