Restitution Discussion Group Archives
| Sender: |
James Edelman |
| Date: |
Thu, 11 May 2000 21:24:31 +0100 |
| Re: |
Money Had and Received and Constructive Trusts |
Trustor
AB v Smallbone & ors - Court of Appeal (Civil Division) - Sir Richard
Scott V-C, Buxton LJ, Gage J - 09.05.00. Headnote on NewLawOnline
After acquiring control of a Swedish holding company,
defendants LM and LS transferred $61.6m the company's money to a
London bank account controlled by them. Amongst the myriad of payments
and claims to contribution one payment by LS, in breach of duty to the
company, was to a company, Introcom, controlled by LS. Introcom then paid
some of this money onto LS.
It appears from the headnote that Introcom was liable
only for the remaining money as money had and received but was liable
to account "as a constructive trustee" for all the money initially received.
LS appears to have been held liable for all the money received "as a constructive
trustee".
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