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Fiduciary Duty UK Supreme Court Board of Directors

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

Conyers

Directors’ Duties – Two Stage Test for the Creditor Duty

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We have published a series of articles dealing with directors’ duties in the zone of insolvency. In previous briefings, we have written about the high-profile UK Supreme Court ruling in Sequana and the New Zealand Supreme...more

Goodwin

BTI v. Sequana - What’s new for directors in the zone of insolvency?

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In BTI 2014 LLC v. Sequana SA and Others [2022] UKSC 25 (“Sequana”), the Supreme Court confirmed the existence of a duty owed at common law by company directors to consider the interests of its creditors, and also provided...more

Venable LLP

UK Supreme Court Issues Long-Awaited Judgment Regarding Company Directors' Duties to Creditors

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​​​​​​​In an important decision for U.S. companies with UK subsidiaries, the UK Supreme Court recently handed down its long-awaited judgment in BTI 2014 LLC v. Sequana S.A., the first case in which the UK's highest court...more

White & Case LLP

Call of Duty: Sequana and the state of directors’ duties

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Recently, the Supreme Court of the United Kingdom released its judgment in BTI 2014 LLC v Sequana SA1. This marks the first occasion on which the nature, scope and content of directors' duties to creditors when a company is...more

Latham & Watkins LLP

Directors’ Duties: Shining Light in the Tunnel?

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In a new ruling, the UK Supreme Court concluded that the rule applies only when a company is “insolvent or bordering on insolvency”. On 5 October 2022, the UK Supreme Court handed down judgment in BTI 2014 LLC v. Sequana...more

Goodwin

Do Directors Have a Duty to Consider the Interests of Creditors Prior to Insolvency?

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On 5 October 2022, the English Supreme Court handed down its decision in BTI 2014 LLC v Sequana SA and others. This (as described by Lady Justice Arden) “momentous” decision principally concerns whether directors are under...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

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

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