The matter can now be regarded as settled. In Abou-Rahmah v Abacha [2006] EWCA Civ 1492 at [59] and [69]. Arden LJ affirmed that the test for dishonesty was primarily an objective one. ‘It is unnecessary to show subjective dishonesty in the sense of consciousness that the transaction is dishonest. It is sufficient if the defendant knows of the elements of the transaction which make it dishonest according to normally accepted standards of behaviour.’ In Eurotrust, the Privy Council had explained and corrected any misconceptions about the nature of the test as it had been set out in Twinsectra.