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Wealthbriefing - Knowing or Unknowing Receipt

December 2010 - Finance. Legal Developments by Sinels .

More articles by this firm.

In the recent case of Bagus Investments v. Kastening , the Royal Court of Jersey signalled that the English claim of ‘knowing receipt’ might be known in Jersey law.

This move could potentially represent a significant shift in Jersey’s legal landscape as, at first blush at least, it appears to run contrary to that stated in the well known judgment of Birt, DB (as he then was), in Re Esteem where it was held that innocent recipients of assets transferred in breach of trust would be strictly personally liable and that the English doctrine of liability for ‘knowing receipt’ did not apply in Jersey law.

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