Tagged: fiduciary duties

Unsuccessful invocation of equitable principles to deflect a tax liability

The HCA disallowed a joint venturer’s claim to have derived a lump sum as constructive trustee. Alleged fiduciary duties owed to a non-venturer were not accepted. Alternatively, the venturer’s purported equitable assignment of his rights to the lump sum was not tax-effective.

Directors’ duties/fiduciary duties and knowing receipt

Roslyn Kaye – In this appeal, the New South Wales Court of Appeal: (a) dismissed an appeal by two company directors who were found by the trial judge to have breached their directors’ duties; and (b) upheld an appeal by an individual alleged to have been in knowing receipt of monies transferred to her by the directors in breach of their fiduciary duties.