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barnes v addyde facto directorconstructive trust
Grimaldi v Chameleon Mining NL (No 2)
Grimaldi v Chameleon Mining NL (No 2) (2012) 200 FCR 296; [2012] FCAFC 6
Key Principle
The Full Federal Court comprehensively restated Australian accessory (Barnes v Addy) and fiduciary liability: the second-limb 'knowing assistance' claim continues to require knowledge of a dishonest and fraudulent design (the Australian knowledge-based test affirmed in Farah Constructions v Say-Dee, not the English objective-dishonesty test of Royal Brunei v Tan), and a person who acts as a director in substance (a de facto or shadow director/officer) is subject to fiduciary and statutory directors' duties.
Area of Law
trusts
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