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In the event that liability is established, damages will reflect the value of the property at the time of conversion and may include, if pleaded, compensation for loss of profits.
The House of Lords Bahamian courts have adopted principles of English law in the finding and recognition of a constructive trust where property has been dealt with in an unconscionable manner, such as profiting from unlawful acts or unauthorised dealings by a fiduciary.
While the requisite elements of fraud are well settled, the causes of action that have developed over time to address fraudulent conduct reflect the dynamic nature of fraud: fraudulent disposition claims, fraudulent misrepresentation and deceit, conversion, breach of trust, constructive trusts and unjust enrichment.
Third parties to a fraud may also be held liable for unlawful means conspiracy, lawful means conspiracy, dishonest assistance and knowing receipt.
has been discovered or could, with reasonable diligence, have been discovered.
An action shall not be brought in relation to a judgment after six years from the date on which the judgment became enforceable.
While Bahamian courts are not bound by decisions of the English courts, decisions emanating from England and other Commonwealth jurisdictions represent persuasive authority.In addition to tourism, the Bahamas has earned a reputation as a compliant and transparent offshore financial services jurisdiction, frequently utilised by successful companies and high-net-worth individuals seeking investment and wealth management advice, and tax and estate planning opportunities.Maintaining the trust and confidence of financial institutions around the globe, specifically those in the banking, investment and trust businesses requires a flexible legal infrastructure capable of adjudicating complex disputes, and a statutory and common law framework capable of protecting the rights of those doing business within the jurisdiction, both of which the Bahamas boast.A cause of action in unjust enrichment arises when the defendant acquires an interest or value in assets that benefits him or her at the expense of the plaintiff in circumstances where it is unjust that the defendant be permitted to retain the assets or value.This often applies to a transfer of interest or value by mistake, but may also apply to instances of fraudulent misrepresentation or deliberate misappropriation of assets.