New tracing case (Lionel Smith, 25 Jun 1997)

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Sender:	Lionel Smith
Date:	Wed, 25 Jun 1997 11:26:09
Re:	new tracing case

Greetings all,

Now available on LEXIS is Foskett v. McKeown (21 May 1997), in which the English Court of Appeal had to decide whether trust beneficiaries who could trace trust money into the payment of premiums for life insurance for the breaching trustee were able to claim a proportionate share of the proceeds when he died. It was held 2-1 that they could not, the court not noticing the US position where the weight of authority is the other way.

Lionel Smith

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