Where a director who breaches fiduciary duties is also a director of a corporate trustee that receives the diverted funds, the director's knowledge as the directing mind and will of the corporate trustee is imputed to that trustee, establishing knowing receipt liability under the first limb of Barnes v Addy. Constructive notice cannot be used to impute knowledge to co-trustees or co-directors for Barnes v Addy claims. A trustee of a self-managed superannuation fund gives valuable consideration for contributions by undertaking obligations under the trust deed, and is therefore not a volunteer.
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