Attorney General of Hong Kong v Reid (1994) sets a legal precedent on fiduciary duties and the recovery of assets procured through bribery, shaping the enforcement of equitable interests and constructive trusts.
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🏛️ Court: Privy Council (New Zealand) 🗓️ Judgment Date: 1 November 1993 🗂️ Where Reported: [1994] 1 A.C. 324; [1993] 3 W.L.R. 1143 📍 Jurisdiction: United Kingdom
Fiduciary Duties and Constructive Trusts: The case established that bribes received by a fiduciary, in this scenario a Crown servant, must be treated as property held in constructive trust for the principal, i.e., the Crown. This ruling emphasised that any property bought with such bribes also falls into this category, aligning with equity's demand that a fiduciary must not profit from breaches of duty.
