The ‘rolling charge’ ⇒ An alternative means of allocating the property is the ‘rolling charge’: each payment out the account is allocated, pari passu, to the beneficial owners of property at the time of payment.

What is equitable tracing?

Tracing in English law is a procedure to identify property (such as money) that has been taken from the claimant involuntarily. Equitable tracing, on the other hand, relies on the claimant having an equitable interest in the property, and can succeed where the property has been mixed with other property.

What is backward tracing trust law?

Also sometimes referred to as ‘tracing into the payment of a debt’, backwards tracing would allow the process of tracing to occur in the situation where an asset has been acquired in exchange for the creation of a debt and, subsequently, misappropriated trust assets are used to discharge that debt.

What is tracing at common law?

A principal applied in certain circumstances at common law and in equity allowing the claimant of certain property, in order to enforce his or her proprietary right to ‘trace’ that property where it has been mixed with another’s property or transformed or passed to a third party.

Is tracing a remedy?

Tracing is a legal process, not a remedy, by which a claimant demonstrates what has happened to his/her property, identifies its proceeds and those persons who have handled or received them, and asks the court to award a proprietary remedy in respect of the property, or an asset substituted for the original property or …

What is the rule in Barnes v addy?

Barnes v Addy (1874) LR 9 Ch App 244 was a decision of the Court of Appeal in Chancery. It established that, in English trusts law, third parties could be liable for a breach of trust in two circumstances, referred to as the two ‘limbs’ of Barnes v Addy: knowing receipt and knowing assistance.

What is equitable compensation?

Equitable. compensation, on the other hand, was used to describe monetary relief awarded as an equitable rather than statutory remedy for loss suffered by breach of an equitable obligation.

What is backwards tracing in equity?

The bar on backwards tracing means that the claimant cannot trace “back” into the property acquired by the loan – instead, the claimant’s proprietary interest is extinguished along with the loan.

What is backward tracing?

Backward tracing is an outbreak investigation process where new cases and their contacts are routinely linked via the events or place where they originally got infected.

What is Bridge trust?

n. 1) any act which is in violation of the duties or a trustee or of the terms of a trust. Such a breach need not be intentional or with malice, but can be due to negligence. 2) breaking a promise or confidence. (