Matteo Clarkson-Maciel has co-authored a case note titled “When the Music Stops: The UKSC Judgment in Akers, Applying the Bona Fide Purchaser Rule and Offshore Trusts,” published by The Trusts & Trustees Journal from Oxford University Press.
Abstract from Trusts & Trustees:
This case note examines the effect of the recent Supreme Court decision in Akers v Samba Financial Group [2017] UKSC 6. The authors explore the reasoning of the Court, particularly in relation to bona fide purchaser rule and its effect on off-shore trusts and section 127 of the Insolvency Act 1986. It will conclude that the Supreme Court was correct on the facts t limit the remedies available through equity and the insolvency act when assets held on trust are disposed. The appellants were incorrect in positing that a disposition had occurred. Further, the court affirms ‘the Samba principle’ wherein equity applies in personam to foreign and domestic assets. The decision highlights tension inherent within trusts and insolvency law which Akers provides remedy to through the bona fide purchaser rule.
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