*/
Solicitor – Duty. The bank had issued proceedings against the defendant firm of solicitors for breach of trust in connection with a re-mortgage transaction. The Court of Appeal, Civil Division, held that the judge had been entitled to find that the solicitors had acted in breach of trust in failing to use the bank's advance to fully discharge the prior charge on the property, but had erred in finding that the breach was limited to the amount of the shortfall which would have been necessary to fully discharge the prior charge in circumstances where the solicitors had had no authority to release any of the funds. However, the relief granted was equitable compensation calculated by reference to actual loss related to the undischarged prior charge. The Supreme Court, in dismissing the bank's appeal, affirmed the general approach to the assessment of equitable compensation for breach of trust as described in Target Holdings Ltd v Redferns (a firm) [1995] 3 All ER 785.
Solicitor – Duty. The bank had issued proceedings against the defendant firm of solicitors for breach of trust in connection with a re-mortgage transaction. The Court of Appeal, Civil Division, held that the judge had been entitled to find that the solicitors had acted in breach of trust in failing to use the bank's advance to fully discharge the prior charge on the property, but had erred in finding that the breach was limited to the amount of the shortfall which would have been necessary to fully discharge the prior charge in circumstances where the solicitors had had no authority to release any of the funds. However, the relief granted was equitable compensation calculated by reference to actual loss related to the undischarged prior charge. The Supreme Court, in dismissing the bank's appeal, affirmed the general approach to the assessment of equitable compensation for breach of trust as described in Target Holdings Ltd v Redferns (a firm) [1995] 3 All ER 785.
Sam Townend KC explains the Bar Council’s efforts towards ensuring a bright future for the profession
Giovanni D’Avola explores the issue of over-citation of unreported cases and the ‘added value’ elements of a law report
Louise Crush explores the key points and opportunities for tax efficiency
Westgate Wealth Management Ltd is a Partner Practice of FTSE 100 company St. James’s Place – one of the top UK Wealth Management firms. We offer a holistic service of distinct quality, integrity, and excellence with the aim to build a professional and valuable relationship with our clients, helping to provide them with security now, prosperity in the future and the highest standard of service in all of our dealings.
Is now the time to review your financial position, having reached a career milestone? asks Louise Crush
If you were to host a dinner party with 10 guests, and you asked them to explain what financial planning is and how it differs to financial advice, you’d receive 10 different answers. The variety of answers highlights the ongoing need to clarify and promote the value of financial planning.
Most of us like to think we would risk our career in order to meet our ethical obligations, so why have so many lawyers failed to hold the line? asks Flora Page
If your current practice environment is bringing you down, seek a new one. However daunting the change, it will be worth it, says Anon Barrister
Creating advocacy opportunities for juniors is now the expectation but not always easy to put into effect. Tom Mitcheson KC distils developing best practice from the Patents Court initiative already bearing fruit
Sam Townend KC explains the Bar Council’s efforts towards ensuring a bright future for the profession
The long-running fee-paid judicial pensions saga continues. The current cut-off date for giving notice of election to join FPJPS is 31 March 2024, and that date now gives rise to a serious problem, warns HH John Platt
