Summary:
In a recent High Court decision of His Honour Judge Cooke in AIB Group (UK) PLC and Mark Redler & Co (23 January 2012), the court upheld a claim by a lender for breach of trust and equitable compensation. Notably, however, the court did not allow the lender’s claim for full reconstitution of the trust monies advanced – rather, the lender was only entitled to the amount that it would otherwise have held as security.