Fiduciary powers, inadequate deliberation, and rescission of voidable transactions

In what was his last decision as a Justice of the Supreme Court, Lord Walker delivered the judgment of Pitt v Holt. 1 Amongst other issues, the judgment re-examined the ‘rule in Hastings-Bass ’. 2 Twelve years on, the Privy Council in Ashley Dawson-Damer v Grampian Company Trust Ltd 3 was called upon to further clarify Lord Walker’s analysis of the reformed rule. While the Privy Council offered welcome guidance, it left certain aspects of the rule uncertain. This comment critically analyses the decision, and offers further points of reflection.