J.E. Penner has made available for download his article, “Falsifying the Trust Account and Compensatory Equitable Compensation,” published in the NUS Law Working Paper No. 2016/003.
The Abstract reads as follows:
The scope of decision of the United Kingdom Supreme Court in AIB Group v Mark Redler & Co will only be understood in view of its treatment in subsequent decisions, but it is submitted it is frail authority for the view that a beneficiary will be unable to falsify the trust account where property has been misapplied. In this paper it is contended, first, that an alternative analysis of the facts in AIB Group indicates that the case was, plausibly, wrongly decided. Second, the uncertain ratio of the case will be examined to point out fact situations where the case should not be followed.