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Knowing receipt is an English trusts law doctrine for imposing liability on a person who has received property that belongs to a trust, or which was held by a fiduciary, having known that the property was given to them in breach of trust. To be liable for knowing receipt, the claimant must show, first, a disposal of his trust assets in breach ...
A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other assets for another person. One party, for example, a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to ...
The trustee is the legal owner of the assets held in trust on behalf of the trust and its beneficiaries. The beneficiaries of a trust are equitable owners of the trust property. Trustees have a fiduciary duty to manage the trust for the benefit of the equitable owners.
Fiduciary management is an approach to asset management that involves an asset owner appointing a third party to manage the total assets of the asset owner on an integrated basis through a combination of advisory and delegated investment services, with a view to achieving the asset owner's overall investment objectives. In principle, the model ...
Revlon, Inc. v. MacAndrews & Forbes Holdings, Inc., 506 A.2d 173 (Del. 1986), was a landmark decision of the Delaware Supreme Court on hostile takeovers. The Court declared that, in certain limited circumstances indicating that the "sale" or "break-up" of the company is inevitable, the fiduciary obligation of the directors of a target corporation are narrowed significantly, the singular ...
Barnes v Addy was the starting point for the academic debate as to the proper grounds of accessory liability and claims for knowing receipt of trust property. Lord Nicholls revised the test for assistance liability in Royal Brunei Airlines v Tan (1995), whereby it is no longer necessary for the trustee to have acted dishonestly and instead the ...
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