''Re Oatway''
903
__NOTOC__
Year 903 ( CMIII) was a common year starting on Saturday of the Julian calendar.
Events
By place
Europe
* King Berengar I of Italy proceeds to issue concessions and privileges to the Lombard nobility and monasteries. He gra ...
2 Ch 356 is an
English trusts law
English trust law concerns the protection of assets, usually when they are held by one party for another's benefit. Trust law, Trusts were a creation of the English law of English property law, property and English contract law, obligations, a ...
case, concerning tracing.
Facts
Mr Oatway was a trustee of Charles Skipper’s will. He took £3000 of trust money and mixed it with £4000 of his own. He used £2137 from the fund to buy shares in the
Oceana Company, and dissipated the rest. Then he died. The beneficiaries of the Skipper trust wished to trace their money into the £2475 that were the proceeds of the shares.
Judgment
Joyce J held the beneficiaries could claim the proceeds of the shares. A trustee cannot say the purchased assets were not bought with trust money.
This was just as true as that a trustee cannot rely on Clayton’s case to say that it was the beneficiary’s money taken out first and spent.
903
__NOTOC__
Year 903 ( CMIII) was a common year starting on Saturday of the Julian calendar.
Events
By place
Europe
* King Berengar I of Italy proceeds to issue concessions and privileges to the Lombard nobility and monasteries. He gra ...
Ch 356, 360
See also
*
English trusts law
English trust law concerns the protection of assets, usually when they are held by one party for another's benefit. Trust law, Trusts were a creation of the English law of English property law, property and English contract law, obligations, a ...
*''
Turner v Jacob''
006
Alec Trevelyan is a fictional character who is the main antagonist in the 1995 James Bond film ''GoldenEye,'' portrayed by actor Sean Bean. Bean's likeness was also used as the model for Alec Trevelyan in the 1997 video game '' GoldenEye 007' ...
EWHC 1317 (Ch),
008 008, OO8, O08, or 0O8 may refer to:
* "008", a fictional 00 Agent
In Ian Fleming's James Bond novels and the derived films, the 00 Section of MI6 is considered the secret service's elite. A 00 (pronounced "Double O") is a field agent who ho ...
WTLR 307, Patten J held the Re Hallett presumption of a trustee spending his own money first applies where there are sufficient funds left over in a bank account to satisfy a claim by a beneficiary.
*''
Shalson v Russo''
EWHC 1637 [144">003
EWHC 1637 [144suggested the beneficiary can cherry pick whichever is more favourable, as for physical mixtures.
*''Foskett v McKeown'', para 132, Lord Millett also.
Notes
{{reflist, 2
References
*
English trusts case law
High Court of Justice cases
1903 in British law
1903 in case law