What factors will be considered in determining whether a trustee can make a profit out of the trust?
Manitoba, Canada
The following excerpt is from McNabb v. Gandy, 2005 MBQB 79 (CanLII):
Another important factor to consider is the issue of conflict in the context of the circumstances here. The rule against conflict of interest was expressed by Lord Upjohn in Boardman v. Phipps [1967] 2 A.C. 46 at p. 123 as: ….. the fundamental rule of equity that a person in a fiduciary capacity must not make a profit out of his trust which is part of the wider rule that a trustee must not place himself in a position where his duty and his interest may conflict.
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