Weekly Review: 14th – 15th February 2013

Constructive trustees: Limitation Ordinance

Section 20(1) of the Limitation Ordinance (no limitation period in respect of actions by beneficiaries against trustees) only applies to ‘true’ constructive trustees and not those who are strangers to the trust but become constructive trustees by virtue of some act of dishonest assistance with a breach of trust (Rose Palace Ltd v Jung Christopher Lam).

Landlord and tenant: sureties: disclaimer (English law)

Disclaimer of a lease by a liquidator (pursuant to s.178 of the Insolvency Act 1986) or  by the Treasury Solicitor after dissolution of a corporate tenant does not bring an end to the liability of a guarantor of the tenant’s obligations (RVB Investments Ltd v Bibby).