What is a trustee's duty of utmost good faith and loyalty to beneficiaries of a trust?
British Columbia, Canada
The following excerpt is from Clock Holdings Ltd. v. Braich, 2008 BCSC 1697 (CanLII):
Trustees owe a duty of utmost good faith and loyalty to trust beneficiaries. Their primary obligation is to preserve the property of the trust. In discharging these duties and obligations, trustees must strictly avoid self-interest wherever their interest could conflict with the interests of those they are bound to protect: Davis v. Kerr (1890), 1890 CanLII 50 (SCC), 17 S.C.R. 235.
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