Article on The Quistclose Doctrine

Ying Khai Liew (University College London – Faculty of Laws) and Weng Tchung Low (Independent) recently published an article entitled, The Quistclose Doctrine: Resurrection of the Primary Trust?, 25 King’s Law Journal 8 – 18 (2014). Provided below is the abstract from SSRN:

The recent decision of the Federal Court of Malaysia in PECD Bhd (in liquidation) v Amtrustee Bhd [2014] 1 MLJ 91 was unusual in that it followed and applied the primary-secondary trust analysis of Lord Wilberforce in Barclays Bank Ltd v Quistclose Investments Ltd [1970] AC 567 (HL) as the proper legal basis of the Quitsclose trust in Malaysia. A careful inspection, however, reveals that the decision reflects a distortion and misapplication of the Quistclose doctrine which gives rise to considerable concern.