ABSTRACT
There are, in general, three widely considered theoretical bases for a knowing receipt claim: unconscionability, a subsisting proprietary interest and unjust enrichment. In Byers v Saudi National Bank, the English Court of Appeal seemed to have settled for the first two bases. In this article, we first question why unconscionability alone cannot serve as the basis for a knowing receipt claim. We also bring to light the practical consequence that the Court’s decision may have in encouraging unscrupulous third parties to launder clean assets obtained in breach of trust by transferring them to safe-haven jurisdictions where the trust regime is not recognised.
€
Bennett Au-Yeung and Samuel Yee Ching Leung, In search of a laundry receipt, Trusts and Trustees, https://doi.org/10.1093/tandt/ttac026. Published 1 April.
First posted 2022-04-05 07:00:11
Leave a Reply