Notes
1 [1996] 1 AC 421 (House of Lords (HL)).
2 Peter Millett, ‘Equity's Place in the Law of Commerce’ (1998) 114 Law Quarterly Review 214, 225–226; Steven Elliott, ‘Compensation Claims Against Trustees' (DPhil thesis, University of Oxford 2002) 34–47; James Edelman and Steven Elliott, ‘Money Remedies Against Trustees' (2004) 18 Trust Law International 116, 116–119; Steven Elliott and Charles Mitchell, ‘Remedies for Dishonest Assistance’ (2004) 67 Modern Law Review 16, 23–31; Libertarian Investments Ltd v Hall [2013] (Hong Kong Court of Final Appeal (HKCFA)) 93 [167]–[172]; Charles Mitchell, ‘Equitable Compensation for Breach of Fiduciary Duty’ (2013) 66 Current Legal Problems 307, 320–323.
3 Peter Birks, ‘Rights, Wrongs, and Remedies' (2000) 20 Oxford Journal of Legal Studies 1, 27–36.
4 Target Holdings (n 1).
5 (1991) 85 DLR (4th) 129 (Supreme Court of Canada (SCC)).
6 [2014] UKSC 58 (United Kingdom Supreme Court (UKSC)).
7 ibid [121]–[132] (Lord Reed). It should be mentioned that the Singapore Court of Appeal in Ohm Pacific Sdn Bhd v Ng Hwee Cheng Doreen [1994] 2 SLR 576 (Singapore Court of Appeal (SCA)) had, prior to Target Holdings v Redfern, already introduced causation rules to breach of fiduciary duties claims.
8 Edelman and Elliott, ‘Money Remedies Against Trustees' (n 2) 124–25; Peter Birks, ‘Equity In The Modern Law’ (1996) 26 University of Western Australia Law Review 1, 45–48; Mitchell, ‘Equitable Compensation for Breach of Fiduciary Duty’ (n 2) 323–325.
9 [1998] Ch 1 (England and Wales Court of Appeal (CA)). See, Joshua Getzler, ‘Am I My Beneficiary's Keeper? Fusion and Loss-Based Fiduciary Remedies' in Degeling and Edelman (eds), Equity in Commercial Law (Lawbook Co 2005) 252–259.
10 Birks, ‘Equity In The Modern Law (n 8) 36–38.
11 Millett, ‘Equity's Place in the Law of Commerce’ (n 2) 227; Geoffrey Vos, ‘Linking Chains of Causation: An Examination of New Approaches to Causation in Equity and the Common Law’ (2001) 60 Cambridge Law Journal 337, 344–345; Elliott, ‘Compensation Claims Against Trustees' (n 2) 171–173.
12 Elliott, ‘Compensation Claims Against Trustees' (n 2) 171–172; Millett, ‘Equity's Place in the Law of Commerce’ (n 2) 224–227; Birks, ‘Equity In The Modern Law’ (n 8) 45.
13 Elliott, ‘Compensation Claims Against Trustees' (n 2) 173–176.
14 Andrew Burrows, ‘We Do This At Common Law But That In Equity’ (2002) 22 Oxford Journal of Legal Studies 1, 10–11.
15 Peter Millett, ‘Proprietary Restitution’ in Degeling and Edelman (eds), Equity in Commercial Law (Lawbook Co 2005) 311.
16 AIB (n 6) [64], [134]–[135].
17 ibid [134]–[135].
18 Libertarian Investments (n 2) [168].
19 Tan Ruo Yu, ‘Substitutive Performance Claims for Breach of Trust: Final Nail in the Coffin?’ (2015) 21 Trusts & Trustees 565.
20 AIB (n 6) [71].
21 ibid [64]–[66], [71], [76], [137]–[138].
22 ibid [140].
23 See David Hayton, ‘Unique Rules for the Unique Institution, the Trust’ in Degeling and Edelman (eds), Equity in Commercial Law (Lawbook Co 2005) Ch 11, 305–306.
24 AIB (n 6) [34], [71], [137].
25 Millett, ‘Equity's Place in the Law of Commerce’ (n 2) 225–226.
26 [1888] 37 Ch D 466 (CA) 480.
27 AIB (n 6) [59].
28 Youyang Pty Ltd v Minter Ellison Morris Fletcher (2003) 212 CLR 484 (High Court of Australia (HCA)); Millett, ‘Equity's Place in the Law of Commerce’ (n 2) 227.
29 AIB (n 6) [124].
30 ibid [135].
31 [1801] 6 Ves Jun 488, 31 ER 1159.
32 It is noteworthy that Lord Toulson expressly approved fusionist Professor Andrew Burrows' view in AIB (n 6) [63].
33 Cf Millett, ‘Equity's Place in the Law of Commerce’ (n 2) 225.
34 AIB (n 6) [62]–[63], [135]–[136].
35 Burrows, ‘We Do This At Common Law But That In Equity’ (n 14) 10–12; Andrew Burrows, ‘Remedial Coherence and Punitive Damages in Equity’ in Degeling and Edelman (eds), Equity in Commercial Law (Lawbook Co 2005) 387–391.
36 AIB (n 6) [116].
37 ibid [138].
38 ibid [118].
39 Birks, ‘Rights, Wrongs, and Remedies' (n 3) 1; Lionel Smith, ‘Fusion and Tradition’ in Degeling and Edelman (eds), Equity in Commercial Law (Lawbook Co 2005).
40 Kit Barker, ‘Rescuing Remedialism in Unjust Enrichment Law: Why Remedies Are Right’ (1998) 57 Cambridge Law Journal 301, 319.
41 AIB (n 6) [64]–[66], [76], [137]–[138].
42 ibid [65].
43 Birks, ‘Rights, Wrongs, and Remedies' (n 3) 1; Birks, ‘Equity In The Modern Law’ (n 8) 45–48; Libertarian Investments (n 2) [167]; Elliott, ‘Compensation Claims Against Trustees' (n 2) 34–47; Edelman and Elliott, ‘Money Remedies Against Trustees' (n 2) 116–119.
44 Birks, ‘Rights, Wrongs, and Remedies' (n 3) 25–36; Birks, ‘Equity In The Modern Law’ (n 8) 40–42.
45 Barker, ‘Rescuing Remedialism in Unjust Enrichment Law’ (n 40) 321–322.
46 Birks, ‘Rights, Wrongs, and Remedies' (n 3) 30.
47 Target Holdings (n 1) 435.
48 AIB (n 6) [70]–[71]. See Hayton, ‘Unique Rules for the Unique Institution, the Trust’ (n 23) 304–306; David Hayton and Charles Mitchell, Commentary And Cases On The Law Of Trusts And Equitable Remedies (12th edn, Sweet & Maxwell 2005) 722, §10-50; cf Millett, ‘Equity's Place in the Law of Commerce’ (n 2) 224–225.
49 Ronald JJ Wong, ‘A Private Law Theory of Adjudication Embracing Value Pluralism, Deliberative Democracy and Constitutionalism’ (2014) 32 Singapore Law Review 81, 105.