Lapome Limited v Ross Kemp & Anor

Lapome Limited v Ross Kemp & Anor

The question of whether a tracing beneficiary can cherry pick as against a wrongdoing trustee is unsettled and controversial. The issue should be determined at trial on the basis of full facts, not on limited evidence at the application stage. The application to strike out is dismissed.

Parties
Claimant: Lapome Limited; Defendant: Ross Kemp; Defendant: K Capital Limited
Jurisdiction
England and Wales
Judgment Date
11 September 2024
Procedural Posture
Civil / Application to Strike Out Claim
Outcome
Application dismissed
Legal Topics
Tracing, Constructive Trusts, Fiduciary Duty, Remedies for Breach of Trust, Summary Judgment, Abuse of Process
Equity Trusts Civil Procedure Tracing Constructive Trusts Fiduciary Duty Remedies for Breach of Trust Summary Judgment +1 more

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Parties

Lapome Limited

Claimant

Ross Kemp

Defendant

K Capital Limited

Defendant

Procedural Posture

Civil / Application to Strike Out Claim

Legal Issues

  1. 1 Whether a beneficiary under a constructive trust can trace into property acquired from a mixed fund when the fund's value never fell below the trust property value
  2. 2 Whether the claimant can 'cherry pick' its remedy in tracing claims against a wrongdoing fiduciary or recipient

Ratio Decidendi

The question of whether a tracing beneficiary can cherry pick as against a wrongdoing trustee is unsettled and controversial. The issue should be determined at trial on the basis of full facts, not on limited evidence at the application stage. The application to strike out is dismissed.

Court Disposition

Application dismissed

Orders

  • The defendants' application to strike out the claim is dismissed.