Controlling Fiduciary Power

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Nolan, Richard (2009)
  • References (36)
    36 references, page 1 of 4

    101 P. Finn, “The Fiduciary Principle”, in D. Waters (ed.), Equity, Fiduciaries and Trusts (Toronto 1989); P. Finn, “Fiduciary Law and the Modern Commercial World”, chapter 1 in E. McKendrick (ed.), Commercial Aspects of Trusts and Fiduciary Relationships (Oxford 1992); M. Conaglen, “The Nature and Function of Fiduciary Loyalty” (2005) 121 L.Q.R. 452 at pp. 454-460 and Fiduciary Loyalty (above note 71).

    102 Ibid.

    103 Aleyn v. Belchier (1758) 1 Eden 132 at p. 138, 28 E.R. 634 at p. 637, per Lord Northington. A few examples of powers that must be exercised in good faith suffice to make the point: Allen v. Gold Reefs of West Africa [1900] 1 Ch. 656 (shareholders' power to alter a company's articles of association); Yorkshire Bank v. Hall [1999] 1 W.L.R. 1713 (mortgagee's power of sale); Paragon Finance v. Nash [2001] EWCA Civ 1466, [2002] 1 W.L.R. 685 (mortgagee's power to set interest rates under the mortgage); Redwood Master Fund Ltd. v. TD Bank Europe Ltd. [2002] EWHC 2703

    104 (ACrhm)i,ta[2g0e0v6.] N1uBrCseL[C1919489]C(lhen.2d4e1rs;'Bproiswtoelr &toWaletsetrBthSevt.eMrmosthoefwa[l1o9a9n8]syCnhd.ic1a;tIitoenm).Software (UK) Ltd. v. Fassihi [2004] EWCA Civ 1244, [2005] 2 BCLC 91.

    105 See (again) Aleyn v. Belchier (1758) 1 Eden 132 at p. 138, 28 E.R. 634 at p. 637, per Lord Northington; Price v. Bouch (1986) 53 P. & C.R. 257 (power to administer a scheme of development); National Grid Co. plc v. Laws [1997] OPLR 207 (powers of an employer company under a pension trust); Yorkshire Bank plc v. Hall [1999] 1 W.L.R. 1713; (mortgagee's power of sale); Paragon Finance v. Nash [2001] EWCA Civ 1466, [2002] 1 W.L.R. 685 (mortgagee's power to

    106 sCeotninsitdereersHtruantteesruvn.dSeernathteeSmuoprptogratgSee)r.vSiceees, gLetnde.r[a2l0l0y4,]UEnWdeHrhCil1l0&85H(aCyhto),n[2(0a0b5o]v1eBn.oCte.L5.)C, .·117.756a.t [165]-[173], per John Randall Q.C., addressing the similarity of the principle to the Wednesbury

    107 pSreienPciaprltesDo(fii)puabbolivcel.aw.

    108 Smithson v. Hamilton [2007] EWHC 2900 (Ch), [2008] 1 W.L.R. 1453 at [97], per Sir Andrew Park.

    109 J.S. Getzler, “Equitable Compensation and the Regulation of Fiduciary Relationships”, in P. Birks and F. Rose (eds.), Restitution and Equity (London 2000), 235, “Duty of Care” in P. Birks and A. Pretto (eds.), Breach of Trust (Oxford 2002), 41, “Am I My Beneficiary's Keeper? Fusion and Loss-Based Fiduciary Remedies” in S. Degeling and J. Edelman (eds.), Equity in Commercial Law: Volume 1 (Sydney 2005), 239; J.D. Heydon, “Are the Duties of Company Directors to Exercise Care and Skill Fiduciary?”, ibid., 185. Note also Youyang v. Minter Ellison Morris

    110 FPleertmchaenre[n2t0B03u]ildHinCgAS1o5ci,e(t2y0(0i3n)li2q1u2idCat.Lio.nR).v4.8W4 haete[l3e9r](,1p9e9r4c)u1r4iaAm..C.S.R. 109 at p. 157, per Ipp J. The leading statement in English law to this effect was made by Millett L.J. in Bristol & West BS v. Mothew [1998] Ch. 1 at p. 18: see Johnson v. EBS Pensioner Trustees Ltd. [2002] EWCA Civ 164,

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