'Breach of Fiduciary Duty Claims' article published
Posted on February 17, 2019 by Carl Islam
My article, 'Breach of Fiduciary Duty Claims and the Quiet Fiduciary Thesis' has been published in Trusts & Trustees by Oxford University Press, and a link to the article has been posted on the Publications page at www.ihtbar.com.
My new book about Contentious Trusts (due to be published by the Law Society in October) will also contain an extensive chapter on breach of trust and breach of fiduciary duty claims.
The abstract of the article is as follows:
'In arriving at the conclusion that a claim for fraudulent calumny can be brought on the grounds of breach of fiduciary duty where a fiduciary has been silent (the 'Quiet fiduciary thesis'), the author examines:
· the approach of the court to breach of fiduciary duty claims—i.e. the framework of applicable legal principles;
· the hallmarks of a fiduciary—i.e. who is a fiduciary;
· the scope and content of fiduciary duties—i.e. the nature of the duties which define a fiduciary; and
· the equitable remedies available to the claimant which result—i.e. the remedial consequences of breach of fiduciary duty, which include: (i) the availability of the section 21(1) Limitation Act 1980 carve-out; (ii) equitable proprietary remedies, including tracing in equity, which is not defeated by the irretrievable mixing of property, Agip (Africa) Ltd v Jackson [1991] Ch 417; and (iii) the non-application of common law principles of remoteness in claims for equitable compensation based upon breach of fiduciary duty. (the 'fiduciary principle').
After applying the Fiduciary Principle to demonstrate the validity of the Quiet Fiduciary Thesis, the author discusses the operation of the fiduciary principle in the wider commercial and contractual context. Because rescission is a self-help remedy at common law, in equity the question that arises is, 'can a contract be rescinded on the grounds of breach of fiduciary duty, by reason of silence/non-disclosure e.g. by a company director or co-venturer?' The author concludes that it can. The principles applicable to breach of fiduciary duty claims in the context of a commercial joint-venture were recently examined in: Glenn v Watson & Ors [2018] EWHC 2016 (Ch) (31 July 2018) and Sheikh Al Nehayan v Kent [2018] EWHC 333 (Comm).'
I am currently acting in 3 breach of fiduciary duty cases, one of which is currently in the High Court in Cardiff where I appeared in January.
To enquire about instructing me in relation to a will, trust, or breach of fiduciary duty dispute please contact Ian Hogg at 1 Essex Court on 0207 936 3030.