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The decision of the House of Lords in Twinsectra v Yardley has refocused attention on the Quistclose trust. Although accepted by insolvency lawyers as a convenient tool for corporate rescue, the precise basis of the trust has always been in doubt. The purpose of these essays is to explore the foundations of the trust and subject them to a.The so-called Quistclose trust probably represents the single most important application of equitable principles in commercial life. (Lord Millett in the foreword to this book). The decision of the House of Lords in Twinsectra v Yardley has refocused attention on the Quistclose trust. Although accepted by insolvency lawyers as a convenient tool for corporate rescue, the precise basis of the.Penner J. Lord Millett's Analysis.In Swadling W, editor, The Quistclose Trust: Critical Essays. Oxford: Hart. 2004. p. 41 - 66.
Quistclose trust purpose must be verifiable when funds applied (High Court)by PLC Private ClientRelated ContentFor a Quistclose trust to arise, it must be objectively verifiable whether funds transferred for an exclusive purpose have been applied for that purpose at the time of application, the High Court has held when analysing a film tax relief scheme (Bieber and others v Teathers Ltd (2012.Read More
The source of Quistclose trusts The Quistclose trust takes its name from the decision of the House of Lords in Barclays Bank v Quistclose.2 The principle in Barclays Bank v Quistclose in turn derives from a number of earlier decisions including Hassall v Smither.3 In short, where a transferor transfers property subject to a contractual provision that the.Read More
Lord Millet (with whom Lord Hutton also agreed) held that the money was held on a Quistclose trust. He said: 73. A Quistclose trust does not necessarily arise merely because money is paid for a particular purpose. A Lender will often inquire in the purpose for which a loan is sought in order to decide whether he would be justified in making it.Read More
Note: The decision of the House of Lords in Twinsectra v Yardley (2002) has refocused attention on the Quistclose trust (Barclays Bank v Quistclose Ltd. (1970) AC 567).Read More
In 24 libraries. The decision of the House of Lords in Twinsectra v Yardley (2002) has refocused attention on the Quistclose trust (Barclays Bank v Quistclose Ltd (1970) AC 567). The purpose of these essays is to explore the supposed foundations of the trust and subject them to a searching analysis. xviii, 189 p.; 24 cm. Trusts and trustees -- Great Britain. Trusts and trustees -- England.Read More
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The Quistclose Trust: Critical Essays. Oxford: Hart;. Sharon K. Dobbins. Equity: The Court of Conscience or the King’s Command, the Dialogues of St. German and Hobbes Compared. Journal of Law and Religion. 1991;9(1). Hughes-Davies. Redefining the Quistclose Trust.Read More
A similar form of trust that arises when money is advanced for a particular purpose, but is not then used for that purpose (e.g. to pay a company dividend, to a pay a specified creditor, to purchase goods or for a particular project) may be called a 'Quistclose trust' (Barclays Bank v Quistclose Investments Ltd (1970) AC 567 (HL)).Such a trust does not strictly 'result' for the actions of the.Read More
A Quistclose trust is a trust created where a creditor has lent money to a debtor for a particular purpose. In the event that the debtor uses the money for any other purpose, it is held on trust for the creditor. Any inappropriately spent money can then be traced, and returned to the creditors. The name and trust comes from the House of Lords decision in Barclays Bank Ltd v Quistclose.Read More
The Quistclose doctrine is a relatively recent creature of equity representing the application of a trust as a device for the purpose of conferring priority to lenders against an insolvent’s pre.Read More