Mr MacKenzie had bought some at a public judicial auction in February 1779, and the sale was confirmed by the Court of Session after several months.
The York Buildings Co then sought a declaration that the sale be set aside, on the ground that Mr MacKenzie had been an agent and solicitor of the court during the previous proceedings.
The wise policy of the law has therefore put the sting of a disability into the temptation as a defensive weapon against the strength of the danger which lies in the situation.
There is no magic in the term: He is a trustee (in technical style) who is vested with property in trust for others; but every man has a trust, to whom a business is committed by another, or the charge and care of any concern is confided or delegated by commission.The House of Lords held that an agent or solicitor of creditors of a bankrupt owed trustee-like fiduciary duties.
So a purchase by him of part of a bankrupt's estate was liable to be set aside when the circumstances showed any impropriety or negligent conduct.