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CPD Course:
Recovering
Misappropriated Property
or its Proceeds:
The Principles of
Following and Tracing,
and the Liability of
Strangers to the Trust
Presented by
Prof. Steven Gallagher,
Professor of Practice in Law,
Associate Dean (Teaching & Learning),
The Faculty of Law,
The Chinese University of Hong Kong |
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| Code: |
EVT000000366 |
Level: |
Intermediate |
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| Date: |
5 August 2022 (Friday) |
Language: |
English |
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| Time: |
14:30 - 17:45
(Reception starts at 14:00) |
Accreditation(s): |
LSHK 3.0 CPD Points |
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Request for Rerun: |
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| Presenter's Profile: |
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Steven Gallagher was awarded a first class LL.B. He was called to the Bar of England and Wales in 2006. Steven teaches equity and trusts, property law, and digital technology and law. Steven also teaches a course on art, antiquities, cultural heritage and the law. Steven has presented continuing professional development courses for solicitors in Hong Kong on many topics associated with property. Steven’s research interests include equity and the law of trusts, art and cultural heritage law and legal history. He is not a technologist. In 2023 Steven published the first treatise dealing formally and systematically with all the major aspects of, and entitled, Digital Technology and Law.
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| Course Outline: |
This 3-hour seminar will examine the development of the evidential rules of tracing at common law and in equity and the potential liability of strangers to the trust or other fiduciary relationships.
The seminar will consider the process of tracing at common law and in equity and developments in this area since the case of Foskett v McKeown [2001] 1 AC 102 including the debate whether tracing is a process or remedy and whether the equitable rules of tracing should be available to trace assets misappropriated without breach of a fiduciary relationship.
The consideration of tracing ends with the development of “Backwards Tracing” in The Federal Republic of Brazil and another v Durant International Corporation and another (Jersey) [2015] UKPC 35.
The second part of the seminar will consider the potential liabilities of those who are not officially appointed as trustee but whose actions may make them liable in equity for any loss their actions may have caused the trust whether as trustee de son tort, their knowing receipt of trust property or by their assistance in a breach of trust.
The seminar will consider recent developments in recipient liability and accessory liability including the test for dishonesty in dishonest assistance, and the status of dishonest assisters and those in knowing receipt as trustees after the cases of Peconic Industrial Develoment Ltd v Lau Kwok Fai [2009] 2 HKLRD 537 and Williams v Central Bank of Nigeria [2014] UKSC 10. |
| Some of the topics considered in this seminar will be: |
- The processes of following and tracing at common law;
- The limitations of tracing at common law;
- The processes of following and tracing in equity;
- The requirements for tracing in equity;
- The 5 principles for tracing in equity;
- The 5 limits to tracing in equity;
- The benefits of tracing in equity;
- The development of “Backwards Tracing” in The Federal Republic of Brazil and another v Durant International Corporation and another (Jersey) [2015] UKPC 35;
- Potential liabilities of third parties who intermeddle with the trust;
- The equitable rules on recipient liability (knowing receipt) and accessory liability (knowing or dishonest assistance);
- Some of the problems for solicitors, bankers, accountants etc.;
- Some of the disputed issues in this area.
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This course is provided by: |
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Relevant CPD Courses |
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Telephone: +852 3118 2371 | Facsimile: +852 3118 2372 Postal Address: P.O. Box 9993, General Post Office, Hong Kong |
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