Carreras Rothmans Ltd V Freeman Mathews, Quistclose Trusts Wills And Trusts Trust Law

Carreras rothmans ltd v freeman mathews treasure ltd 1985 ch.

Carreras a distancia bogota. Re evtr 1987 bclc. To be that equity fastens on the conscience of the person who receives from another property transferred for a specific purpose only and not therefore for the recipients own purposes so that such person will not be permitted to treat the property as his own or to use it for other than the stated purpose. Re chelsea cloisters ltd in liquidation 1980 41 p.

In carreras rothmans v freeman matthews treasure equity will fasten on the conscience of the person who receives from another property transferred for a specific purpose only and not therefore for the recipients own purposes so that such person will not be permitted to treat the property as his own or to use it for other than the stated purpose. 2 in carreras rothman v freeman matthews treasure 1985 a case where a paid money to b to be used solely for the purpose of paying off debts that a owed to c various newspapers and periodicals that had carried advertisements for as products peter gibson j held that the money paid by a to b was held on a quistclose trust and that. Facts of the case.

This reference to conscience could make quistclose trusts. Then to that extent the contract as a matter of public policy is avoided. According to peter gibson j.

Diplock and lord edmund davies agreed found that on the true interpretation of the provisions of the arrangement british eagle did have an asset at the commencement of the liquidation that asset being described by lord cross at p. In carreras rothmans ltd v freeman mathews treasure ltd the quistclose trust principle was said by peter gibson j. The company would pay the agency who would pass the money on to the third parties from which it has purchased space.

The claimant was a tobacco company and the defendant was an advertising agency. Where the effect of a contract is that an asset which is actually owned by a company at the commencement of its liquidation would be dealt with in a way other than in accordance with the statutory pari passu rule. Carreras rothmans v freeman matthews 1985 ch 207.

In carreras rothmans ltd v freeman mathews treasure ltd 1985 ch 207 this landmark decision has led to the concept of quistclose trust which has become a form of trust as a way of protection to the lender. To be that. Carreras rothmans ltd v freeman mathews treasure ltd.

In twinsectra v yardley 2002 2 ac 164 the quistclose trust was used for a yet further purpose namely the foundation for a dishonest assistance claim. In carreras rothmans ltd v freeman mathews treasure ltd the quistclose t principle was said by peter gibson j. 778 as an innominate chose in action having some but not all the characteristics of debts.

And ii c was entitled under this trust to compel b to use the trust money. I the beneficial interest in the trust money was in suspense.