Fiduciaries then and now

Abstract

This article takes as its starting point three ground-breaking articles by Len Sealy in the 1960s, and examines their lasting impact on the modern law of fiduciaries. It includes a detailed consideration of the modern tendency to describe rather than define fiduciaries; it critiques the current readiness to merge fiduciaries with other power-holders, thus ignoring the significant differences between the duties of loyalty in issue in the two contexts; and finally it evaluates and defends the modern approach to fiduciary remedies, especially equitable compensation.