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A big step forwards for backwards tracing
https://www.cfla.org.uk/wp-content/uploads/A-big-step-forrwards-for-backwards-tracing.pdf
to trace into an asset which the fraudster had previously acquired, the process is known as ‘backwards tracing’. As demonstrated below, increasing pressure has been placed on the courts to revisit the rule against this type of tracing. BACKWARDS TRACING The argument against backwards tracing was summed up by Leggatt LJ in Bishopsgate Investment
A big step forwards for backwards tracing | STEP
https://www.step.org/tqr/tqr-december-2015/big-step-forwards-backwards-tracing
Backwards tracing. The argument against backwards tracing was summed up by Leggatt LJ in Bishopsgate Investment Management Ltd v Homan, who found that equitable tracing is not able to pursue monies through a bank account that is overdrawn at the time of payment, or later becomes overdrawn:
Bankers take note: how the tracing process has become more …
http://fivepaper.com/wp-content/uploads/2020/11/How-the-Tracing-Remedy-has-Become-More-Complex.pdf
continuing tracing of funds through the account at all. BACKWARD TRACING The first case to address expressly the possibility of backward tracing was Bishopsgate Investment Management Ltd v Homan [1995] Ch 211. The applicant (BIM) was the trustee of pension funds misappropriated by Robert Maxwell. The funds had been paid into accounts
The future after Durant: is backwards tracing the way …
https://www.law.ox.ac.uk/sites/files/oxlaw/field/field_document/7_0.pdf
In the case of Bishopsgate Investment v Homan,2 Leggatt LJ clearly sets out that ‘there can ordinarily be no tracing into an asset ... backwards tracing because the test propounded by Lord Toulson is too vague and imbues judges with too great a degree of discretion. The test requires structure and its boundaries more precise
Declarative tracing or backwards tracing—a welcomed …
https://academic.oup.com/tandt/article-abstract/26/10/1001/6012892
Privy Council confirms availability of backward tracing
https://hsfnotes.com/litigation/2015/08/10/privy-council-confirms-availability-of-backward-tracing/
The Board held that the Municipality could trace the full amount of the Bribe Proceeds into Account C, since backward tracing was permissible – a point that was previously unclear in English law (see for example the divided opinions of the Court of Appeal in Bishopsgate Investment Management v Homan [1995] Ch 211), but this decision is ...
Backwards Tracing, Causal Links and Unjust Enrichment …
https://whaymand.wordpress.com/2014/09/30/backwards-tracing-causal-links-and-unjust-enrichment-in-economic-reality-relfo-ltd-v-varsani-2014-ewca-civ-360-extended-case-comment/
The second situation is known as ‘backwards tracing’. For example, a car is purchased with a loan. The loan is then discharged with the misappropriated money. Conventionally, it is not possible to trace backwards into the car: Bishopsgate Investment Management Ltd v Homan [1995] Ch 211 (CA) 221.
Bishopsgate Investment Management Ltd v Homan
https://en.wikipedia.org/wiki/Bishopsgate_Investment_Management_Ltd_v_Homan
Tracing, backwards Bishopsgate Investment Management Ltd v Homan [1994] EWCA Civ 33 is an English trusts law case about whether a beneficiary whose fiduciary breaches trust, may trace assets through an overdrawn account to its destination.
Tracing | Digestible Notes
https://www.digestiblenotes.com/law/trusts/tracing.php
In the case of bank accounts, when the account becomes overdrawn, there can be no further tracing. ⇒ See the case of Bishopsgate Investment Management v Homan [1995] ... Strictly speaking the beneficiary's interest has been dissipated, but backward tracing allows the beneficiary to claim the asset acquired by the fraudster with the loan money ;
Exploration of Backwards Tracing: Doctrine, Theory and Practice
https://academic.oup.com/tandt/article-abstract/23/2/227/2671022
Introduction ‘Backwards tracing’ (often described as tracing into the payment of a debt 1) has sat in legal purgatory for some time with some commentators denying its existence. 2 In an age of sophisticated methods of concealing misappropriations, there is a real danger that asset recovery can be compromised by the settlement of an intermediary debt with stolen funds.
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