should have, stopped the initial move towards disaster, and later on arrested further progress towards disaster. I have indicated in the course of this judgment a number of obvious points at which the bank should have intervened, and it would be repetitive to summarise them. I hold that the bank failed in its duty whether it is judged by the standard of the prudent man of business or of the skilled trust corporation. The bank's breach of duty caused the loss which was suffered by the trust estate. If the bank had intervened as it could and should have, that loss would not have been incurred. By “loss,” I mean the depreciation which took place in the market value of the BT shares, by comparison with the value which the shares would have commanded if the loss on the Old Bailey project had not been incurred, and reduction of dividends through loss of income. The bank is liable for the loss so suffered by the trust estate, except to the extent that I shall hereafter indicate.}} Significance This rule bears a striking similarity to that enacted in s 1 Trustee Act 2000. It can, however, be excluded in a trust instrument (see Sch 1, para 7 TA 2000). The Act essentially adopted and strengthened Brightman J's principles. There was also, under the Stewardship Code, a codification of principles regarding becoming active in use of corporate governance rights in companies. See also English trusts lawNestle v National Westminster Bank plc [1993] 1 WLR 1260 Notes ReferencesEvans v London Co-operative Society'' [1976] CLY 2059, (6 July 1976) Times English trusts case law 1979 in case law 1979 in British law Court of Appeal (England and Wales) cases Barclays litigation