Claims against directors of trustee companies—the next frontier?

Abstract

Abstract Corporate trustees work to (among other things) shield directors from liability as trustees. This article explores whether and how beneficiaries can bring proceedings against errant trustee company directors. It does so in four parts. First, the possibility of direct fiduciary or trustee-like duties is considered. Secondly, the authors address accessory liability for dishonest assistance or knowing receipt. Thirdly, the particular difficulties posed by a director’s diversion of opportunities are explored. Finally, the authors consider developing claims, being the dog-leg claim and a direct duty of care in tort owed by the trustee company director to the beneficiary.