Equitable Compensation and Disgorgement of Profit

Description

This collection of essays interrogates significant issues at the forefront of scholarship and legal practice in the field of money remedies in equity. Chapters address the contentious and developing field of equitable compensation, including: the nature of equitable compensation; the relevant causation inquiry for equitable compensation; whether notions of contribution apply to multiple agents; accessorial liability; the role of discretion in limiting equitable compensation; which wrongs yield equitable compensation; and the extent to which compensation in equity differs from money remedies at common law. Other chapters examine the remedy of disgorgement of profit, and specifically the theoretical basis of that remedy, its application in the context of fiduciary obligations, and third-party issues. A number of chapters also examine the interrelationship between loss- and gain-based money relief. In addressing these issues the book includes both doctrinal and theoretical perspectives, and brings together leading equity scholars and judges from across the common law world. Volume 21 in the series Hart Studies in Private Law Contents Contributors Table of Cases Table of Legislation 1 Equity"s Personal Monetary Remedies I. Introduction II. Themes and Controversies 2 Disgorgement of Profit and Fiduciary Loyalty I. Introduction II. Fiduciary Loyalty III. The No Profit Rule and Fiduciary Loyalty IV. Implications V. Conclusion 3 Justice, Redress, and the Right to Do Wrong I. Introduction II. Corrective Justice III. Civil Recourse Theory IV. Redressive Justice V. The Moral Challenge VI. Implications VII. Conclusion 4 Equitable Compensation-An Overview I. Introduction II. The Remedy of Equitable Compensation III. Why Equitable Compensation? IV. The Substitutive/Reparative Distinction V. Where to from Here? VI. Conclusion 5 An English Misturning with Equitable Compensation I. Introduction: Debt and Damages II. The Decision in AIB Group (UK) Plc Ltd v Mark Redler III. The Decision in Target Holdings and the Traditional Approach in Equity IV. Earlier Doubts Concerning Target Holdings V. Lord Millett"s Re-explanation of Target Holdings VI. Is the Position Different in Cases where there is No Money Debt? VII. Conclusion 6 Brickenden I. Context II. Interpreting Brickenden III. Movements Away from Brickenden IV. Conclusions 7 Falsifying the Trust Account and Compensatory Equitable Compensation I. The Bank Adopted the Misapplication of Funds, so the Solicitors Ought Not to Have Been Liable at All II. The Scope of the Ratio Decidendi in AIB Group III. Conclusion 8 Causation in the Restoration of a Misapplied Trust Fund: Fundamental Norm or Red Herring? I. Introduction II. Orthodoxy III. The Basis and Justification of the Duty Breached IV. Justifying the AIB Group Decision V. Conclusion 9 Accounts of Profits and Third Parties I. Introduction II. Proprietary Claims and Personal Remedies III. Accounts of Profits and Knowing Receipt IV. Accounts of Profits and Knowing Assistance V. Causation and Gains VI. Conclusion 10 Monetary Remedies for Equitable Participatory Liability: General Principles and Current Questions I. Introduction II. General Principles of Relevance to the Remedies for Equitable Participatory Liability III. The Current State of the Law Concerning Monetary Remedies for Breach of Trust and Fiduciary Duty IV. Three Questions Concerning the Monetary Remedies for Participatory Liability V. Conclusion 11 Equitable Compensation for Equitable Estoppels I. Introduction II. The Different Types of Equitable Estoppels III. Expectation, Detriment and Causation IV. How Does Equitable Compensation Satisfy the Equity Raised? V. The Two Functions of Equitable Compensation for Equitable Estoppels VI. Conclusion 12 Rudiments of the Equitable Remedy of Compensation for Breach of Confidence I. Introduction II. Status of the Remedy III. Concurrence IV. Discretion V. Quantum VI. Conclusion 13 Rescission, Restitution and Compensation I. Introduction II. Rescission and Compensation III. The Requirement of Restititio in Integrum in Rescission IV. Rescission-like Orders Under the TPA/ACL V. Ramifications VI. Conclusion 14 Discretion and Equitable Compensation I. Factors Going to Availability or Appropriateness of Equitable Compensation II. Factors Going to Calculation of Equitable Compensation-Loss of a Chance III. Conclusion Index