FOSKETT v McKEOWN AND ORS

[2000] Lloyd's Rep IR 627

HOUSE OF LORDS

Before Lord Browne-Wilkinson, Lord Steyn, Lord Hoffmann, Lord Hope of Craighead and Lord Millett

Insurance (life) - Mixed substitution - Tracing - Own-life unit-linked policy - Premiums paid by assured using own funds and trust funds belonging to claimants - Whether claimants entitled to claim proportion of proceeds of insurance policy - Whether claim based on tracing or unjust enrichment - Whether claimants had elected not to claim proceeds of policy - Method of apportionment of policy moneys between beneficiaries and claimants.