Proprietary interests and knowing receipt: Byers v Saudi National Bank [2023] UKSC 51

The long-awaited Supreme Court ruling in Byers v Saudi National Bank has provided a welcomed judgment on an established claim in equity and trusts law, knowing receipt. The judgment not only provides guidance on an issue which has never been directly addressed at the Supreme Court level before, namely whether a continuing proprietary interest is needed for a successful claim in knowing receipt, but also provides much-needed clarification on the underlying basis and application of knowing receipt claims moving forwards, guidance that will be renowned for years to come.