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  • Fiduciary Duties, Secret Profits, and the Illegality Defence Anita Purewal

    Rights statement: This is a pre-copy-editing, author-produced PDF of an article accepted for publication in Trusts and Trustees following peer review. The definitive publisher-authenticated version Anita Purewal, Fiduciary Duties, Secret Profits, and the Illegality Defence: Crown Prosecution Service v Aquila Advisory Ltd [2021] UKSC 49, Trusts & Trustees, 2022 28, 2: 125-131, is available online at: https://academic.oup.com/tandt/article/28/2/125/6462590

    Accepted author manuscript, 286 KB, PDF document

    Available under license: CC BY-NC: Creative Commons Attribution-NonCommercial 4.0 International License

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Fiduciary Duties, Secret Profits, and the Illegality Defence: Crown Prosecution Service v Aquila Advisory Ltd [2021] UKSC 49

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Published
<mark>Journal publication date</mark>31/03/2022
<mark>Journal</mark>Trusts & Trustees
Issue number2
Volume28
Number of pages7
Pages (from-to)125-131
Publication StatusPublished
Early online date15/12/21
<mark>Original language</mark>English

Abstract

CPS v Aquila Advisory Ltd has provided a welcomed judgment on the application of the illegality defence in the context of secret profits accrued in breach of fiduciary duties. The judgment clarifies the priority to be given to constructive trusts over unauthorised fiduciary profits in the face of CPS confiscation orders, and examines the interrelationship between the rules of attribution and the application of the illegality defence today, namely whether a director’s unlawful intention can be attributed to their company to prevent the company, on illegality grounds, from exercising a proprietary interest over the secret profits accrued.

Bibliographic note

This is a pre-copy-editing, author-produced PDF of an article accepted for publication in Trusts and Trustees following peer review. The definitive publisher-authenticated version Anita Purewal, Fiduciary Duties, Secret Profits, and the Illegality Defence: Crown Prosecution Service v Aquila Advisory Ltd [2021] UKSC 49, Trusts & Trustees, 2022 28, 2: 125-131, is available online at: https://academic.oup.com/tandt/article/28/2/125/6462590