Trustees Duties

Question 1

AG Hong Kong v Reid

Answer 1

C est. proprietary interest in bribe monies received by Reid on basis of equity sees as done that which ought to be done

Question 2

Nestle v Natwest

Answer 2

Act even hand rely
£239,000 not £1m
Trustees had no breached their duty f investment, growth was just slow

Question 3

Cowan v Scargill

Answer 3

Duty is to provide the best financial benefits for the beneficiaries.
Choosing to invest in mining company ahead of B’s interests was void

Question 4

Harries v Church Commissioners

Answer 4

Trustees should be able to pursue an ethical investment policy as long as they consider the best financial interests of B’s first

Question 5

Re Londonderry’s Statement

Answer 5

B are allowed to see documents which contain information about the trust

Question 6

Schmidt v Rosewood

Answer 6

B no longer have an automatic right to demand information - but does mean court court order the disclosure of any documentation it seems relevant

Question 7

Lister v Stubbs

Answer 7

Bribes - C could not establish proprietary interest in bribes received by their fiduciary as the monies never belonged to the company