Extending the scope of proprietary remedies to recovery of pure profits from successful investment of bribes: the endgames in Lister v Stubbs

For more than a century Lister v Stubbs (1890) 45 Ch D 1 stood as authoritative Court of Appeal judgment denying the recovery of profits acquired from the successful investment of gains obtained in breach of fiduciary duties. The rule was rationalized on the basis that while the claimant was entitle...

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Bibliographic Details
Main Authors:	Hingun, Mohsin, Mohd. Sulaiman, Aiman @ Nariman
Format:	Conference or Workshop Item
Language:	English
Published:	2015
Subjects:	K Law (General)
Online Access:	http://irep.iium.edu.my/48035/ http://irep.iium.edu.my/48035/ http://irep.iium.edu.my/48035/1/48035.pdf

id	iium-48035
recordtype	eprints
spelling	iium-480352016-07-20T01:53:05Z http://irep.iium.edu.my/48035/ Extending the scope of proprietary remedies to recovery of pure profits from successful investment of bribes: the endgames in Lister v Stubbs Hingun, Mohsin Mohd. Sulaiman, Aiman @ Nariman K Law (General) For more than a century Lister v Stubbs (1890) 45 Ch D 1 stood as authoritative Court of Appeal judgment denying the recovery of profits acquired from the successful investment of gains obtained in breach of fiduciary duties. The rule was rationalized on the basis that while the claimant was entitled to the proceeds so unlawfully obtained, he lacked any form of proprietary title to the profits accumulated by the defaulting fiduciary. The harsh reality of the rule produced an unfair outcome to the claimant and the Privy Council refused to apply it in Attorney-General for Hong Kong v Reid [1994] 1 AC 324. The rule also fell out of favour in other leading commonwealth jurisdictions and recently the English courts at all levels had the opportunity to reassess its relevance when the Supreme Court in FHR European Ventures LLP and others v Cedar Capital Partners LLC [2014] 4 All ER 79 consigned it to oblivion. The objective of this paper is to analyse the merits and the deficiencies of the rule and show how the judges of the English courts were prepared to act on policy ground, in comity with other common law jurisdictions in upholding justice in a borderless world. 2015 Conference or Workshop Item NonPeerReviewed application/pdf en http://irep.iium.edu.my/48035/1/48035.pdf Hingun, Mohsin and Mohd. Sulaiman, Aiman @ Nariman (2015) Extending the scope of proprietary remedies to recovery of pure profits from successful investment of bribes: the endgames in Lister v Stubbs. In: The 8th UUM International Legal Conference 2015, 25th -26th Aug. 2015, Bandung, Indonesia. http://lawconference.uum.edu.my/
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	K Law (General)
spellingShingle	K Law (General) Hingun, Mohsin Mohd. Sulaiman, Aiman @ Nariman Extending the scope of proprietary remedies to recovery of pure profits from successful investment of bribes: the endgames in Lister v Stubbs
description	For more than a century Lister v Stubbs (1890) 45 Ch D 1 stood as authoritative Court of Appeal judgment denying the recovery of profits acquired from the successful investment of gains obtained in breach of fiduciary duties. The rule was rationalized on the basis that while the claimant was entitled to the proceeds so unlawfully obtained, he lacked any form of proprietary title to the profits accumulated by the defaulting fiduciary. The harsh reality of the rule produced an unfair outcome to the claimant and the Privy Council refused to apply it in Attorney-General for Hong Kong v Reid [1994] 1 AC 324. The rule also fell out of favour in other leading commonwealth jurisdictions and recently the English courts at all levels had the opportunity to reassess its relevance when the Supreme Court in FHR European Ventures LLP and others v Cedar Capital Partners LLC [2014] 4 All ER 79 consigned it to oblivion. The objective of this paper is to analyse the merits and the deficiencies of the rule and show how the judges of the English courts were prepared to act on policy ground, in comity with other common law jurisdictions in upholding justice in a borderless world.
format	Conference or Workshop Item
author	Hingun, Mohsin Mohd. Sulaiman, Aiman @ Nariman
author_facet	Hingun, Mohsin Mohd. Sulaiman, Aiman @ Nariman
author_sort	Hingun, Mohsin
title	Extending the scope of proprietary remedies to recovery of pure profits from successful investment of bribes: the endgames in Lister v Stubbs
title_short	Extending the scope of proprietary remedies to recovery of pure profits from successful investment of bribes: the endgames in Lister v Stubbs
title_full	Extending the scope of proprietary remedies to recovery of pure profits from successful investment of bribes: the endgames in Lister v Stubbs
title_fullStr	Extending the scope of proprietary remedies to recovery of pure profits from successful investment of bribes: the endgames in Lister v Stubbs
title_full_unstemmed	Extending the scope of proprietary remedies to recovery of pure profits from successful investment of bribes: the endgames in Lister v Stubbs
title_sort	extending the scope of proprietary remedies to recovery of pure profits from successful investment of bribes: the endgames in lister v stubbs
publishDate	2015
url	http://irep.iium.edu.my/48035/ http://irep.iium.edu.my/48035/ http://irep.iium.edu.my/48035/1/48035.pdf
first_indexed	2023-09-18T21:08:15Z
last_indexed	2023-09-18T21:08:15Z
_version_	1777411078957826048

Extending the scope of proprietary remedies to recovery of pure profits from successful investment of bribes: the endgames in Lister v Stubbs

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