Extending The Scope Of Proprietary Remedies To Recovery Of Pure Profits From Successful Investment Of Bribes: The Endgame In Lister V Stubbs
For more than a century Lister v Stubbs (1890) 45 Ch D 1 stood as authoritative Court of Appeal judgment denying the recovery of profits acquired from the successful investment of gains obtained in breach of fiduciary duties. The rule was rationalized on the basis that while the claimant was entitl...
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| Format: | Article |
| Language: | English |
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UUM Press
2015-12-01
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| Series: | UUM Journal of Legal Studies |
| Online Access: | https://www.e-journal.uum.edu.my/index.php/uumjls/article/view/4588 |
| _version_ | 1797938124926484480 |
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| author | Aiman Nariman Mohd Sulaiman Mohsin Hingun |
| author_facet | Aiman Nariman Mohd Sulaiman Mohsin Hingun |
| author_sort | Aiman Nariman Mohd Sulaiman |
| collection | DOAJ |
| description |
For more than a century Lister v Stubbs (1890) 45 Ch D 1 stood as authoritative Court of Appeal judgment denying the recovery of profits acquired from the successful investment of gains obtained in breach of fiduciary duties. The rule was rationalized on the basis that while the claimant was entitled to the proceeds so unlawfully obtained, he lacked any form of proprietary title to the profits accumulated by the defaulting fiduciary. The harsh reality of the rule produced an unfair outcome to the claimant and the Privy Council refused to apply it in Attorney-General for Hong Kong v Reid [1994] 1 AC 324. The rule also fell out of favour in other leading commonwealth jurisdictions and recently the English courts at all levels had the opportunity to reassess its relevance when the Supreme Court in FHR European Ventures LLP and others v Cedar Capital Partners LLC [2014] 4 All ER 79 consigned it to oblivion. The objective of this paper is to analyse the merits and the deficiencies of the rule and show how the judges of the English courts were prepared to act on policy ground, in comity with other common law jurisdictions in upholding justice in a borderless world.
Keywords: breach of Fiduciary duty; Accounts of profits; Proprietary interests; Recovery of pure profits.
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| format | Article |
| id | doaj.art-8c0e09df7fe6492da54d34d519a64ed8 |
| institution | Directory Open Access Journal |
| issn | 2229-984X 0127-9483 |
| language | English |
| last_indexed | 2024-04-10T18:54:49Z |
| publishDate | 2015-12-01 |
| publisher | UUM Press |
| record_format | Article |
| series | UUM Journal of Legal Studies |
| spelling | doaj.art-8c0e09df7fe6492da54d34d519a64ed82023-02-01T03:10:51ZengUUM PressUUM Journal of Legal Studies2229-984X0127-94832015-12-016Extending The Scope Of Proprietary Remedies To Recovery Of Pure Profits From Successful Investment Of Bribes: The Endgame In Lister V StubbsAiman Nariman Mohd Sulaiman0Mohsin Hingun1International Islamic University MalaysiaInternational Islamic University Malaysia For more than a century Lister v Stubbs (1890) 45 Ch D 1 stood as authoritative Court of Appeal judgment denying the recovery of profits acquired from the successful investment of gains obtained in breach of fiduciary duties. The rule was rationalized on the basis that while the claimant was entitled to the proceeds so unlawfully obtained, he lacked any form of proprietary title to the profits accumulated by the defaulting fiduciary. The harsh reality of the rule produced an unfair outcome to the claimant and the Privy Council refused to apply it in Attorney-General for Hong Kong v Reid [1994] 1 AC 324. The rule also fell out of favour in other leading commonwealth jurisdictions and recently the English courts at all levels had the opportunity to reassess its relevance when the Supreme Court in FHR European Ventures LLP and others v Cedar Capital Partners LLC [2014] 4 All ER 79 consigned it to oblivion. The objective of this paper is to analyse the merits and the deficiencies of the rule and show how the judges of the English courts were prepared to act on policy ground, in comity with other common law jurisdictions in upholding justice in a borderless world. Keywords: breach of Fiduciary duty; Accounts of profits; Proprietary interests; Recovery of pure profits. https://www.e-journal.uum.edu.my/index.php/uumjls/article/view/4588 |
| spellingShingle | Aiman Nariman Mohd Sulaiman Mohsin Hingun Extending The Scope Of Proprietary Remedies To Recovery Of Pure Profits From Successful Investment Of Bribes: The Endgame In Lister V Stubbs UUM Journal of Legal Studies |
| title | Extending The Scope Of Proprietary Remedies To Recovery Of Pure Profits From Successful Investment Of Bribes: The Endgame In Lister V Stubbs |
| title_full | Extending The Scope Of Proprietary Remedies To Recovery Of Pure Profits From Successful Investment Of Bribes: The Endgame In Lister V Stubbs |
| title_fullStr | Extending The Scope Of Proprietary Remedies To Recovery Of Pure Profits From Successful Investment Of Bribes: The Endgame In Lister V Stubbs |
| title_full_unstemmed | Extending The Scope Of Proprietary Remedies To Recovery Of Pure Profits From Successful Investment Of Bribes: The Endgame In Lister V Stubbs |
| title_short | Extending The Scope Of Proprietary Remedies To Recovery Of Pure Profits From Successful Investment Of Bribes: The Endgame In Lister V Stubbs |
| title_sort | extending the scope of proprietary remedies to recovery of pure profits from successful investment of bribes the endgame in lister v stubbs |
| url | https://www.e-journal.uum.edu.my/index.php/uumjls/article/view/4588 |
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