Shifting the Foundations of Fiduciary Liability: How Target Holdings and AIB Group Reconstructed the Doctrine of Equitable Compensation
The central question answered in Target Holdings v Redferns [1]was whether, in the event of a breach, a trustee should only be personally liable for losses to the trust fund in fact caused by their breach. Lord Browne-Wilkinson championed the need for factual causation and established that, like contractual damages, equitable compensation should place the […]