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Singapore resulting trustspurpose trusts

HSBC Institutional Trust Services (Singapore) Ltd v Elchemi ELF-1 Ltd

[2010] SGHC 67
JurisdictionSingapore
CourtSingapore High Court
Year2010
StatusBinding authority

Summary

A commercial loan may give rise to a Quistclose resulting trust where funds are advanced for a specific purpose, failing which the money is held on trust for the lender.

Key Principle

resulting trust; Quistclose trust; purpose trust; when commercial loan creates trust relationship

Area of Law

trusts

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