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The Quistclose Doctrine: Resurrection of the Primary Trust?

Liew, YK; Low, WT; (2014) The Quistclose Doctrine: Resurrection of the Primary Trust? King's Law Journal , 25 (1) 8 - 18. 10.5235/09615768.25.1.8. Green open access

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Abstract

The recent decision of the Federal Court of Malaysia in PECD Bhd (in liquidation) v Amtrustee Bhd [2014] 1 MLJ 91 was unusual in that it followed and applied the primary-secondary trust analysis of Lord Wilberforce in Barclays Bank Ltd v Quistclose Investments Ltd [1970] AC 567 (HL) as the proper legal basis of the Quitsclose trust in Malaysia. A careful inspection, however, reveals that the decision reflects a distortion and misapplication of the Quistclose doctrine which gives rise to considerable concern.

Type: Article
Title: The Quistclose Doctrine: Resurrection of the Primary Trust?
Open access status: An open access version is available from UCL Discovery
DOI: 10.5235/09615768.25.1.8
Publisher version: http://dx.doi.org/10.5235/09615768.25.1.8
Language: English
Additional information: As a Taylor & Francis author, you can post your Accepted Manuscript (AM) on your departmental or personal website at any point after publication of your article This is an Accepted Manuscript of an article published by Taylor & Francis Group in King's Law Journal on 03 Jun 2015 available online: http://www.tandfonline.com/doi/pdf/10.5235/09615768.25.1.8
Keywords: Quistclose trust, Primary/secondary trust, Malaysia, Intention, Loan
UCL classification: UCL
UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of Laws
URI: https://discovery.ucl.ac.uk/id/eprint/1460157
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