A tracing remedy is defeated when the account into which the money is paid is overdrawn.
Citations:
Times 14-Jul-1994
Jurisdiction:
England and Wales
Citing:
Appealed to – Re Maxwell Communications Corporation Plc: Bishopsgate Investment Management Ltd v Homan CA 26-Sep-1994
The remedy of tracing is not available through a bank account which was subsequently overdrawn. Nor does the doctrine of tracing extend to following value into a previously acquired asset: ‘there can be no equitable remedy against an asset acquired . .
Cited by:
Appeal from – Re Maxwell Communications Corporation Plc: Bishopsgate Investment Management Ltd v Homan CA 26-Sep-1994
The remedy of tracing is not available through a bank account which was subsequently overdrawn. Nor does the doctrine of tracing extend to following value into a previously acquired asset: ‘there can be no equitable remedy against an asset acquired . .
Lists of cited by and citing cases may be incomplete.
Trusts, Equity
Updated: 05 May 2022; Ref: scu.78425
