Colleagues may be interested in a recent judgment of the Full Court of the Federal Court of Australia, which examines at great length the alleged ‘fiduciary requirement’ for tracing (or ‘tracing in Equity’) and concludes, as have many other courts, that it does not exist: RnD Funding Pty Limited v Roncane Pty Limited [2023] FCAFC 28, with the judgment of Derrington J concurred in by Beach and Halley JJ.

With best wishes,

Lionel