ABILITY TO TRACE THROUGH BANK ACCOUNT AND INTO OTHER ASSETS

A claim to trace money into a valuable motor yacht and a bank account failed where the interest was dependant on there being a fiduciary relationship sufficient to invoke equity’s tracing ability and there was no justification for the suggested consolidation of a current account with a deposit account to enable the claimant to say that the account was in credit rather than debit and was therefore an asset rather than a liability.

[2003] EWHC 1637 (Ch)