El Ajou v Dollar Land Holdings plc

El Ajou v Dollar Land Holdings plc [1993] EWCA Civ 4 is an English trusts law case concerning receipt of property in breach of trust.

El Ajou v Dollar Land Holdings plc
Nine Elms, Battersea (where some of the laundered proceeds ended up)
CourtCourt of Appeal
Full case nameAbdul Ghani el Ajou v (1) Dollar Land Holdings Limited, and (2) Factorum NV
Decided1993
Citation(s)[1993] EWCA Civ 4
[1993] 3 All ER 717
[1994] BCC 143
Court membership
Judge(s) sittingNourse LJ, Rose LJ, Hoffman LJ
Keywords

Facts

Mr Murad, an investment manager held El Ajou’s money but was bribed to invest in fraudulent share selling operations run by three Canadians. The proceeds got invested in Dollar Land Holdings plc, and El Ajou sought restitution on the basis it was a knowing recipient in equity.

Judgment

High Court

Millett J, 739, assumed that negligence, rather than dishonesty, triggered liability in equity for knowing receipt.

Court of Appeal

Court of Appeal overturned Millett J on the finding that the recipient company had sufficient knowledge, adopting another analysis of the facts.

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See also

  • English trusts law

Notes

    References

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