The Rule in Hastings- Bass:

Help for Trustees who Make Mistakes
Sean McWeeney
STEP (Bahamas) Luncheon
November 29th, 2007

This article is hosted on the STEP Bahamas.org website.

Introduction
There is a Confucian proverb that runs something like this :
“A man who has committed a mistake and doesn't correct it, is
committing another mistake.”
With the advent of the Rule in Hastings-Bass, a trustee who makes a
mistake can, in certain circumstances, effectively undo the past, wiping the
slate clean so that he can start anew and get things right the second goround.