Exclusion of duty and the irreducible core content of trusteeship: A re-assessment
This article reviews Millett LJ’s classic characterisation of the irreducible core content of trusteeship. Using duty modification / exclusion clauses that are commonly found in modern trust-corporate structures to circumvent a trustee’s duty to actively engage in corporate management as an example...
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| Main Authors: | , |
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2020
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/sol_research/3248 https://ink.library.smu.edu.sg/context/sol_research/article/5219/viewcontent/Exclusion_of_Duty_and_the_Irreducible_Core_Content_of_Trusteeship_av.pdf |
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| Institution: | Singapore Management University |
| Language: | English |
| Summary: | This article reviews Millett LJ’s classic characterisation of the irreducible core content of trusteeship. Using duty modification / exclusion clauses that are commonly found in modern trust-corporate structures to circumvent a trustee’s duty to actively engage in corporate management as an example, this article has two main objectives. First, this article re-examines the duty to act honestly and in good faith in the irreducible core; and secondly, it considers how our reanalysis can help conceptualise and construe the ‘residual supervisory obligation’ enunciated by the courts in the recent Zhang v DBS litigation. |
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