Does The Intention Required For A Quistclose Trust Differ Onshore To Offshore?

Recent English case law has served to emphasise the requisite levels of intention needed on the part of the transferor for the creation of a Quistclose trust or any other sort of analogous resulting trust. In both the cases of Bellis & Ors v Challinor & Ors [2015] EWCA Civ 59 and Gore & Ors v Mishcon de Reya [2015] EWHC 164 (Ch), the court found that monies held in a solicitor's client account were held on bare trust for that client. Clear intention would have been required on the part of the transferor that the monies be used for an express purpose for the outcome of either case to have been any different.

Bellis v Challinor

In this case, monies were paid by investors in to a solicitor's client account as part of an investment into a property scheme.  A Guernsey company, the solicitor's client, had been set up specifically for the purpose of acquiring the land with the assistance of bank funding. The land had already been purchased by the time the investors