Restitution Discussion Group Archives
| Sender: |
Look Chan Ho |
| Date: |
Sun, 20 Jul 2008 00:46 |
| Re: |
Priority of Quistclose Trust |
I would be grateful for any thoughts on the priority between a Quistclose trust and a security interest where a bank account containing monies subject to a Quistclose trust is already subject to a security interest in favour of the account bank. Let's use Cooper v PRG Powerhouse [2008] EWHC 498 (Ch) as a hypothetical. There it was held that the account of PRG Powerhouse with Barclays Bank contained monies subject to a Quistclose trust in favour of the claimant. If the account were already subject to an existing charge in favour of Barclays Bank, would the claimant's interest under the Quistclose trust trump Barclays Bank's charge?
Kind regards
Look
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