The fundamental wrong in the directors’ acts lay in the signing of transfers of the company’s assets and not entirely in their failure properly to enquire as to the nature of other transaction. The breach of fiduciary duty lay in positive acts. Complaint was also made as to the judge’s five month delay in handing down his judgement.
Judges:
Stuart Smith LJ
Citations:
Times 16-Feb-1993, [1993] BCC 120
Jurisdiction:
England and Wales
Cited by:
Cited – Official Receiver v Wadge Rapps and Hunt (a firm) and another and two other actions HL 31-Jul-2003
(Orse In re Pantmaenog Timber Co Ltd)
The Receiver sought to use information obtained under section 236 (documents recovered from the directors’ solicitors) in disqualification proceedings.
Held: The appeal succeeded. The Act had . .
Lists of cited by and citing cases may be incomplete.
Company, Insolvency
Updated: 05 May 2022; Ref: scu.78424