22 Jul 2008
HOOLE AND PITFIELD & ORS V DARBY AND ORS HC AK CIV-2006-404-5235
- Citation
- openlaw-bdc580ed_a4bd_41a7_b7c0_15686b3c796c.pdf
- Court
- High Court
Bronwyn received Hillcrest's funds as a bare trustee and, by permitting those funds to be paid into and exhausted by an overdrawn bank account, committed a breach of trust; Bronwyn is liable to equitable monetary compensation for the monies lost, subject to deduction of amounts that effectively benefited Hillcrest by payments made via Bronwyn's bank overdraft; acting on Mr Darby's instructions does not excuse Bronwyn's liability; the receivers' claim against Mr Darby is dismissed due to his bankruptcy.