Trusteeship - Hastings-Bass

What is the Rule in Hastings-Bass?

a trustee with discretionary power must exercise that discretion properly, and the court will not interfere with the trustee exercising his discretion in good faith.

What are the conditions under which a court might interfere with a trustee's discretion?

1) what the trustee achieved was unauthorised by the power conferred on them, or

2) the trustee would not have acted as he did had he taken into account all and only relevant considerations.

What did Sieff v Fox (2005) suggest regarding trustee discretion?

suggested that courts should consider whether the trustee might have acted differently, rather than just if they would have done so.

What did the Court rule in Pitt v Holt (2013) regarding fiduciary duties?

The court limited the scope, restating that a trustee's duty to take relevant matters into account is a fiduciary duty, making any act resulting from a breach of this duty voidable.

What was the stance of the Irish courts in Boliden v Tara Mines (2014)?

The Irish court considered it unnecessary to choose, but preferred the 'would have' formula.

What was held in Greene v Coady [2014]?

the court held that a trustee must direct himself properly in law. The court concluded that, for trustees to be liable for wilful default, the default must truly be capable of being one that no reasonable trustee would have done in that position.

What was held in Holloway v Damianus?

the court reinforced the fiduciary responsibilities expected of trustees.