Supreme Court: money owed by insolvent agent to its principal not held on constructive trust – OUT-LAW.com

‘Money which an agent personally owed to its principal at the point the former became insolvent is not held on “constructive trust” for the principal, instead forming part of the assets of the insolvent business to be divided up between all creditors in a proportionate way, the UK’s highest court has ruled.’

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OUT-LAW.com, 29th July 2016

Source: www.out-law.com