On the evening of 21st May, the Faculty was delighted to host the launch of the new Cambridge Private Law research centre. The launch featured a lively and engaging debate between Lord Millett and Richard Millett Q.C. entitled "A fiduciary who receives a bribe holds it on trust for his principal". The debate was kindly sponsored by Allen & Overy.
The debate was prompted by the recent decision of the Court of Appeal in Sinclair Investments v Versailles Trade Finance, which examined the divergent approaches in Lister v Stubbs (CA) and AG (Hong Kong) v Reid (PC), and resolved the conflict in favour of the former approach. The issue reappeared in the High Court in Cadogan [2011] EWHC 2286 (Ch), with Richard Millett QC arguing the 'Lister v Stubbs' line - successfully, of course, given Sinclair. Lord Millett, by contrast, wrote the key article which underpinned the analysis in AG v Reid.
The debate was followed by a reception in the Law Faculty, generously sponsored by Oxford University Press, with the formal launch of the Cambridge Private Law Centre by Lord Millett and the launch of Professor Graham Virgo's new book, The Principles of Equity and Trusts.
A gallery of photographs is available from the event.
The Centre will seek to broaden research and understanding of Private Law issues through activies including further debates, seminars and lectures. The Directors of the Centre are Professor Graham Virgo and Professor Sarah Worthington.
