constructive trust

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  • noun

Synonyms for constructive trust

a trust created by a court (regardless of the intent of the parties) to benefit a party that has been wrongfully deprived of its rights

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References in periodicals archive ?
In some jurisdictions, particularly in North America, there are cases where the court can exercise its discretion to impose constructive trusts to reverse or prevent unjust enrichment.
In fact, leading Canadian cases on remedial constructive trusts are all based on the reversal of unjust enrichment.
Similarly, in the domestic law the remedies for dishonest assistance are regarded not as restitutionary, but compensatory in nature; see Graham Virgo, "Interest, Constructive Trusts and the Conflict of Laws Revisited" [2001] RLR 76 at 79, n 24 [Virgo, "Interest Revisited"].
While not without its controversies, in many English speaking locales the Constructive Trust Doctrine is now a useful tool for those who seek to prevent the dispersal of corrupt funds and recover the proceeds of corrupt activities, such as bribery.
However, as indicated, it is not clear now whether the concept of constructive trust is still to be interpreted so extensively.
What is uncontroversial however is that where there is a clear prior proprietary right to assets and a defendant disposes of those assets in breach of a fiduciary duty, a constructive trust can be imposed on the proceeds of this particular form of corruption.
The liability in restitution of an innocent third party is codified in RESTATEMENT (THIRD) OF RESTITUTION & UNJUST ENRICHMENT [section] 46(1) (2011), and RESTATEMENT (FIRST) OF RESTITUTION: QUASI CONTRACTS & CONSTRUCTIVE TRUSTS [section] 184 cmt.
Although constructive trusts are not mentioned in the Bankruptcy Code, trust property is not considered to be part of the bankruptcy estate and, therefore, not subject to distribution to creditors of the estate.
8) Nevertheless, substantial case law imposing constructive trusts in construction bankruptcy cases still exists.
And private attorneys general who are seeking constructive trusts and corrective advertising are trying to clear up a tragic situation that they had no part in creating.
seeks an order enjoining the challenged advertising, imposing a constructive trust on the defendants, "ill-gotten gains," and requiring the defendants to undertake "corrective" advertising and print media campaigns warning consumers of the health hazards of smoking in order to negate the effect of the Old Joe Camel advertisements.
The third type is a constructive trust where the court also imposes a trust because of the circumstances.
If the court determines that Lone Star Partners was defrauded with the knowledge or active participation of NationsBank in Lone Star's attempts to acquire FirstRepublic, the court could order NationsBank's assets derived from FirstRepublic to be placed in a constructive trust for the benefit by Lone Star Partners.
The Supreme Court of Canada invoked the equitable remedy of constructive trust and ordered the man to hold hall the property and value for the woman.
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