“… to retain the benefit of the receipt: see [15], referring to the decision of this court in Bank of Credit and Commerce International (Overseas) Ltd v Akindele [2001] Ch 437 at 455.…”
“…The last of these ingredients was the subject of consideration by the Court of Appeal in Bank of Credit and Commerce International (Overseas) Ltd v Akindele [2001] Ch 437 (“Akindele”). It was there held that “[t]he recipient’s state of knowledge must be such as to make it unconscionable for him to retain the benefit of the recei…”
“…ledge for this purpose was that it “must be such as to make it unconscionable for him to retain the benefit of the receipt”: see BCCI (Overseas) Ltd v Akindele [2001] Ch 437 (CA) at 455. The principal sum of trust money which Mr Landman was alleged to have received was, of course, the payment of £170,000 to Nisroy. In relation to t…”
“…’s knowledge was such as to make it unconscionable for Praesto to retain the benefit of it: Bank of Credit and Commerce International (Overseas) Ltd v Akindele [2001] Ch 437, 455. The asset in question was never articulated by counsel. It was plainly not money or any tangible asset as there was no suggestion to that effect in the p…”