The second sub-category of constructive trust
to consider is the trust imposed in the case of theft and fraud.
Some courts have held that a personal representative was required to bring the claim because the remedy sought or the cause of action (examples include rescission, constructive trust
, and money judgments) "belonged to the estate.
75 In those circumstances, there is a real question as to whether what the deceased left the plaintiff fell so far short of what the deceased should in conscience have left him, having regard to the plaintiff's expectations, reliance, detriment, and benefit to the deceased, that the Court should impose a constructive trust
The Supreme Court entertained four issues on the appeal: (1) whether the statutory deemed trust provided for by the PBA applies to wind up deficiencies; (2) assuming it does, whether it supersedes priority under the DIP agreement; (3) whether Indalex had fiduciary duties to plan members when considering its options in respect of insolvency, and if so whether those duties were actionably breached; and (4) supposing Indalex had actionably violated its fiduciary duties to plan members, whether a constructive trust
was an appropriate remedy.
171) Therefore, as Millett explains, in the domestic law, "a retransfer in specie after rescission is best regarded, not as a consequence of a constructive trust
or resulting trust, nor as a response to unjust enrichment, but as part of the working out of the equitable remedy of rescission, which is tightly controlled and subject to its own defences.
Now let me turn briefly to the constructive trust
and particularly to its use as a remedy.
It may, as in some of the examples above, give rise to a constructive trust
and thus to a proprietary claim, or it may also provide a basis for personal claims.
upon a constructive trust
, unless adequate relief can otherwise be given
In English courts, the finding of a constructive trust
is substantively connected to the presence of a confidential relationship, while in the United States, the doctrine developed into a much broader equitable remedy.
the constructive trust
concept in a number of places throughout the
Mr Baynes Clarke brought the action to win an order that his neighbour held that land on a constructive trust
for the benefit of the estate.
37) The outrage at the unjust enrichment of AIG must thus be cabined into one of the available restitution devices: partial rescission, constructive trust
, or accounting for profits.