Judgment Date: 16 Oct 2017
A judge had been right to grant rescission of derivative contracts between a bank and its customer on the grounds of bribery and conflict of interests. He had erred in holding the bank responsible for the bribe, because the third party making it had not, on the facts, been acting as the bank's agent at the time. However, the bank was responsible for the bribe in equity, because it had dishonestly assisted the third party in achieving its corrupt aims. The court examined the nature of fiduciary relationships, the concept of attribution, and the availability of equitable remedies.