Caldicott and others v Richards and another [2020] EWHC 767 (Ch)

Publication Date:
03 Apr 2020


A sale of shares from trust to a trustee was set-aside, on terms, on the basis of breach of the self-dealing rule, despite being carried out in good faith, on the basis of sound valuation advice and with specialist legal advice.  The case highlights the need for “fully informed consent” to be obtained from all beneficiaries and makes clear that standard form exoneration clauses may not fully protect a fiduciary from a claim of this kind.  


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