Court Court of Appeal in Chancery Citation(s) [1815] EWHC KB J84, (1815) 3 M&S 562 | ||
Taylor v Plumer [1815] EWHC KB J84 is an English trusts law case, concerning tracing assets that are wrongfully taken in breach of trust.
Contents
Facts
Sir Thomas Plumer gave his broker, Mr Walsh, a draft on his bankers for £22,200 to invest in exchequer bills. Mr Walsh cashed the draft, and got bank notes. He bought £6500 in exchequer bills, and with the balance he got American securities, paying with the bank notes. But he gave one note to his brother in law, in return for his bankers’ draft of £500. He then bought 71½ doubloons, with the intention of escaping to North America, via Lisbon. Sir Thomas' attorney caught him at Falmouth, and secured a return of the American securities and bullion. Mr Walsh was indicted, tried, found guilty, but pardoned, and then declared bankrupt. His assignees in bankruptcy brought an action in trover against Sir Thomas.
Judgment
Lord Ellenborough held that Sir Thomas had never ceased to be the lawful proprietor.