News & Analysis as of

Fiduciary Duty Breach of Duty United Kingdom

Latham & Watkins LLP

No Causation Defence for Self-Interested Fiduciaries: UK Supreme Court Affirms Strict Profit Rule

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The judgment concerns the circumstances in which fiduciaries must account to their principals for the profits they make from their fiduciary relationships....more

Walkers

Retiring trustee – reasonable security and retention of assets

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Under section 43(b) of the Trusts (Guernsey) Law, 2007, when a trustee resigns or is removed it may require that it be provided with reasonable security for liabilities before surrendering trust property....more

Jones Day

Directors Take Note: English Court Awards Substantial Judgment Under New "Trading Misfeasance" Law

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The £150 million judgment makes clear the full impact of the trading misfeasance offence for directors....more

Mayer Brown

UK Supreme Court Clarifies Basis of ‘Knowing Receipt’ Claims Arising From Breach of Fiduciary Duty

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"The law on 'knowing receipt' has perplexed judges and academics alike for several decades" – Lord Burrows (paragraph 99). In a decision with significant implications for claims involving fraud and breach of fiduciary duty...more

Proskauer - The Capital Commitment

ESG in 2024: Traps for the Unwary

ESG continues to be a hot topic for 2024 for investors and regulators alike. The specific concerns investors and regulators have – and what they expect to develop over the coming months – differ, however, across...more

Orrick, Herrington & Sutcliffe LLP

Startups in the UK: Navigating the Next Phase of Growth

In the second article of a two-part series, Jamie Moore, Kristy Hart, Kelly Hagedorn, Scott Morrison, Cameron Carr, Emma Cameron, Anna O’Kelly and Hanna Hewitt of Orrick explain the key issues and complexities that UK...more

Proskauer - Minding Your Business

A New Gateway Opens – More English Court Options for Victims of Overseas Fraud

Recent rule changes allow claimants full access to key English law mechanisms to discover the identity of defendants and location of assets, even where the wrongdoers and third parties are not based in England. This is highly...more

Conyers

Directors’ Duties on the Precipice of Insolvency: Brief Overview of BTI 2014 LLC v Sequana SA

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The United Kingdom Supreme Court (the “UKSC”) recently delivered its eagerly anticipated judgment in BTI 2014 LLC v Sequana SA and others [2022 UKSC 25] (“Sequana”). The reasoning in Sequana will be highly persuasive in the...more

Conyers

BVI Directors’ Duties And Insolvency: The Impact of the Sequana Case

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On 5 October 2022 the UK Supreme Court (UKSC) handed down its “momentous” decision in BTI 2014 LLC v Sequana SA and others1. The case addresses issues of ‘‘considerable practical importance to the management of companies’’,...more

BCLP

When appealing a contempt order will be an abuse of process

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Our insight into a recent judgment of the Court of Appeal: the judgment provides valuable analysis from the Court of Appeal as to the legal principles and the policy considerations around what constitutes an abuse of process...more

Goodwin

Litigation Insights - July 2021

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FOREWORD - On behalf of the new and expanding Goodwin London litigation team I am delighted to welcome you to our first ever ‘Litigation Insights’: a series of quarterly updates on important and interesting developments...more

Latham & Watkins LLP

‘Iniquity Exception’ Extends to Breaches of a Director’s Statutory Duty

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English High Court holds that alleged breaches of a director’s statutory duties can engage the ‘iniquity exception’, which disapplies legal professional privilege under certain conditions. In Barrowfen Properties v Girish...more

White & Case LLP

What duties does a lawyer owe a litigation funder - put simply, what do the words say?

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The recent judgment in John Hall v Saunders Law Limited & Others considers the extent of the duties (if any) owed by solicitors conducting funded litigation to those funders, and emphasises the importance of careful drafting...more

White & Case LLP

2019 Half-year in review: M&A legal and market developments

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We set out in the attached Newsletter a number of interesting English court decisions and market developments which have taken place in the second half of 2019 and their impact on M&A transactions. This review looks at these...more

Latham & Watkins LLP

UK Supreme Court Upholds First Successful Claim for Breach of Quincecare Duty

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In a leading case, the Court examined the extent of the duty of care that a bank owes to its customers when executing their orders. On 30 October 2019, the UK Supreme Court dismissed Daiwa’s appeal in the case of...more

McGuireWoods LLP

Breach of Fiduciary Duties by a Dissenting Director

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The 15 February 2019 judgment in the case of Stobart Group Limited v William Andrew Tinkler [2019] EWHC 258 (Comm) raises “some elementary principles of corporate governance” and notably, some interesting themes regarding the...more

White & Case LLP

2018 Half-year in review: M&A legal and market developments

White & Case LLP on

We set out in the attached Newsletter a number of interesting English court decisions and market developments which have taken place in the second half of 2018 and their impact on M&A transactions. This review looks at these...more

Latham & Watkins LLP

English High Court Confirms the Scope of Freezing Injunctions in Relation to Third-Party Assets

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Third-party assets controlled (de facto or de jure) by the respondent are ordinarily outside the scope of a freezing injunction unless exceptional circumstances can be established. In the recent case of FM Capital Partners...more

Hogan Lovells

Formalize your arrangements, don't rely on a love affair

Hogan Lovells on

The question of how willing the court is to impose fiduciary duties on a person informally involved in a company has, to an extent, been answered by the case of Karla Otto Ltd v Bulent Eren Bayram (24 February 2017). Such...more

Bryan Cave Leighton Paisner

Bribes and the remedy of Tracing

Relations between companies and businessmen worldwide are often governed by contracts subject to English law. Bribery is – regrettably – common in worldwide business. A discussion as to how English civil law treats a bribe is...more

Dorsey & Whitney LLP

This Week In Securities Litigation

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The SEC filed its first action against a municipal adviser for breach of fiduciary duty based on a provision amended by Dodd-Frank. The agency also continued to file insider trading actions in an administrative forum....more

Foley & Lardner LLP

A Compilation of Enforcement and Non-Enforcement Actions

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Non-Enforcement - Form PF — What Purpose? SEC registered investment advisers with at least $150 million of assets under management in private funds are required to periodically file Form PF with the SEC. The...more

Cooley LLP

Blog: What States Should Know About Breach Of Fiduciary Duty

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Who can be sued? In England and other common law countries a civil claim for breach of "fiduciary duty" can usually be made against senior public officials involved in corruption. When does it apply? A claim for...more

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