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The Appropriate Remedy for Breach of Custodial Fiduciary Duty

Michael M H Ng

(2023) 35 SAcLJ 273

In 2020, the Court of Appeal set out a remedial classification of trustees' duties and provided definitive guidance on the remedial regime for the breach of non-custodial fiduciary duties. The appropriate remedial response to breaches of managerial stewardship duties is not controversial. On the other hand, the appropriate remedy for breach of custodial stewardship duties remains controversial in the Commonwealth with diverging authority and academic opinion. The position was further left open in Sim Poh Ping v Winsta Holding Pte Ltd [2020] 1 SLR 1199. This article argues that the orthodox approach of account and falsification should be preserved in Singapore law.