Ms Rose Chaudry

Rose Chaudry

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Insolvency & Restructuring

Money transfer for specific purpose – High Court ruling on Quistclose trusts
United Kingdom | 27 November 2020

Quistclose trusts classically arise in situations where loans are made for a specific purpose. Disputes over Quistclose trusts often arise in insolvency situations. In a recent case, the High Court found that a Quistclose trust had arisen in a situation where solicitors were forwarded monies by a third party for a specific purpose.