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6 Claims to Proceeds of Unauthorized Acts

From: The Law of Tracing in Commercial Transactions

Magda Raczynska

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2022. All Rights Reserved.date: 16 August 2022

Property and title and choice of law — Interests and terminology and transfer of title

This chapter examines the possible basis for proprietary restitutionary claims to proceeds of unauthorised dispositions of assets subject to security interests and title-based interests. In particular, it considers the extent to which the nature of the legal relationship between the parties to the transaction might influence the basis of such claims by revisiting the Court of Appeal decision in Buhr v Barclays Bank. It also asks whether the creditor has an automatic right to proceeds of an unauthorised disposition, along with issues arising from proprietary claims to proceeds of unauthorised dispositions based on vindicatio and unjust enrichment. It shows that a secured creditor's automatic right to proceeds of unauthorised dispositions cannot be greater than what he had in the case of authorised transactions.

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