31 Oct 2012
PRASAD v PARAI and ORS HC AK CIV-2012-404-003530
- Citation
- openlaw-c197423d_2531_409d_8b57_4aeb998cbd15.pdf
- Court
- High Court
Appellant, a trustee and manager, purchased property using Trust funds without authority and on-sold it before the Trust knew, thereby breaching fiduciary obligations; equitable principles require disgorgement of the unauthorised profit, the subsequent offer to pay was an enforceable compromise not induced by illegitimate pressure, and there was no basis to overturn the trial judge's credibility findings; appeal dismissed.