Citation(s) [1993] EWCA Civ 4, [1993] 3 All ER 717 | ||
El Ajou v Dollar Land Holdings plc [1993] EWCA Civ 4 is an English trusts law case concerning receipt of property in breach of trust.
Contents
Facts
Mr Murad, an investment manager held El Ajou’s money but was bribed to invest in fraudulent share selling operations run by three Canadians. The proceeds got invested in Dollar Land Holdings plc, and El Ajou sought restitution on the basis it was a knowing recipient in equity.
High Court
Millett J, 739, assumed that negligence, rather than dishonesty, triggered liability in equity for knowing receipt.
Court of Appeal
Court of Appeal overturned Millett J on the finding that the recipient company had sufficient knowledge, adopting another analysis of the facts.
References
El Ajou v Dollar Land Holdings plc Wikipedia(Text) CC BY-SA