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Target Holdings v Redferns [1995]


  • The defendant solicitor held money in his client account for the claimant, to be released upon completion of a property purchase
  • The solicitor released some of the money early, making a significant personal profit


  • Was the solicitor liable for the profit?


  • No


  • Although there was a breach of fiduciary duty, it would not have changed the financial position of the claimant had it not occurred
  • The loss did not result from the defendant’s act
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