| (Webinar via Zoom) Recovering Misappropriated Property or its Proceeds: The Principles of Following and Tracing, and the Liability of strangers to the Trust |
| Date: |
23 July 2025 (Wednesday) |
| Time: |
2:30pm - 5:45pm |
| Level: |
I (Intermediate)
For delegates who have prior knowledge of the subject area |
| Language: |
English |
| Fee: |
HK$ 1,850 |
| Accreditation: |
(3 CPD Points will be applied for) |
| Ref: |
L25TP04 |
| Venue: |
Webinar Course
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Presenter's Biography:
Steven Gallagher was awarded a first class LL.B. He was called to the Bar of England and Wales in 2006. Steven teaches equity and trusts, and property law courses for undergraduate and postgraduate students. Steven also teaches a course on art, antiquities, cultural heritage and the law. Steven has presented continuing professional development courses for solicitors in Hong Kong on many topics associated with property. Steven's research interests include equity and the law of trusts, cultural heritage law, legal history, and law and technology.
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Objective:
This 3-hour seminar will examine the development of the evidential rules of tracing at common law and in equity and the potential liability of strangers to the trust or other fiduciary relationships. The seminar will consider the process of tracing at common law and in equity and developments in this area since the case of Foskett v McKeown [2001] 1 AC 102, including the debate whether tracing is a process or remedy and whether the equitable rules of tracing should be available to trace assets misappropriated without breach of a fiduciary relationship. The consideration of tracing ends with the development of "Backwards Tracing" in The Federal Republic of Brazil and another v Durant International Corporation and another (Jersey) [2015] UKPC 35. The second part of the seminar will consider the potential liabilities of those who are not officially appointed as trustee but whose actions may make them liable in equity for any loss their actions may have caused the trust whether as trustee de son tort, or as those in knowing receipt of trust property or as those who dishonestly assist in a breach of trust. The seminar will consider recent developments in knowing receipt (recipient liability), including the requirement for a successful claim that the claimant had "a continuing equitable interest" in the claimed property after the UK Supreme Court decision of Byers v Saudi National Bank [2023] UKSC 51. The seminar will conclude by considering developments in dishonest assistance (accessory liability). These developments include the test for dishonesty, and the status of dishonest assisters and those in knowing receipt as possible trustees after the cases of Peconic Industrial Develoment Ltd V Lau Kwok Fai [2009] 2 HKLRD 537 and Williams v Central Bank of Nigeria [2014] UKSC 10.
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Outline:
- The processes of following and tracing at common law;
- The limitations of tracing at common law;
- The processes of following and tracing in equity;
- The requirements for tracing in equity;
- The 5 principles for tracing in equity;
- The 5 limits to tracing in equity;
- The benefits of tracing in equity;
- The development of "Backwards Tracing" in The Federal Republic of Brazil and another v Durant International Corporation and another (Jersey) [2015] UKPC 35;
- Potential liabilities of third parties who intermeddle with the trust;
- The equitable rules on knowing receipt (recipient liability) and dishonest assistance (accessory liability or knowing assistance);
- The requirement for "a continuing equitable interest" in the claimed property for successful claims in knowing receipt after Byers v Saudi National Bank [2023] UKSC 51;
- Some of the problems for solicitors, bankers, accountants etc.;
- Some of the disputed issues in this area.
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| Category: |
Trust, Succession & Probate |
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Bookings & Payments
To reserve a seat, please fax the completed booking form to us. We will send out a written Booking Confirmation either by fax or by email to confirm your booking, normally within 48 hours after receiving the booking form. Payment should be made upon we send the Booking Confirmation to you, or together with the booking form if the booking is received within seven (7) days of the course. You are advised to contact us to confirm your place if you have not received the Booking Confirmation prior to the commencement of the course.
Cancellation
In case of cancellation of a booking, you must inform us in writing at least seven (7) days before the date of the course, and a full refund will be issued (less of HK$300 administration fee). Cancellation of unpaid bookings will incur a HK$300 administration fee and the cancellation will not be deemed effective until payment of such fee is received. No refunds will be given and any outstanding amounts remain payable in full if the written notice of cancellation is made less than (7) days before the date of the course.
Transfer
If you cannot attend a booked course, you must inform us in writing at least 24 hours before the commencing time of the course. You may then:
- Transfer the booking to a replacement delegate;( Not available for Individual Discount Packages)
- Transfer your booking to another course, to be held before 31 October 2025; or
- Request a credit voucher, to be used on another LexOmnibus CPD course to be held before 31 October 2025.
No attendance
Once a booking is confirmed and no written notice of cancellation is received by us within the specified time as mentioned above, if a delegate has not settled the payment for a course and fails to attend, for whatever reason, the course fee will remain payable in full. To be awarded CPD points, full attendance of all parts of the conference is required. If you arrive later, or fail to attend a course, your course fee will not be waived, refunded or a credit voucher issued.
Weather
In the event that the No.8 typhoon signal is hoisted or the Black Rain Storm warning is raised within 2.5 hours of the course or is due to be raised during the course, the course will be cancelled. In the event of cancellation due to bad weather, the course will be rescheduled or a credit note issued. No refunds will be given.
Record of Attendance
A certificate of attendance can be provided at a cost of HK$40. Alternatively, a verification of attendance in letter format, along with the original payments receipt is available, at a cost HK$40. Please apply in writing to request either a certificate or verification letter subsequent to the course.
Conference Venue
All the conferences, except webinars, will be taken place in Central. The address of the conference venue will be notified by email, and via the website.
Other Terms
- We may reschedule, vary the details of a course at any time without liability. If we cancel or reschedule the course, except due to the weather conditions indicated, a credit note will be issued.
- Any bank charges and/or expenses incurred as a result of bounced cheques shall be borne by the delegates.
- LexOmnibus will not issue an invoice for registration of a course except under special circumstances and LexOmnibus reserves the right to charge an administration fee for providing that service.
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