From the Court of Appeal of the Commonwealth of The Bahamas. The Board was asked as to the probity of three transactions entered into by the appellant. Held; The nominee director at the centre of the allegations had, in breach of his duty to the company, not acted indepently, but had instead acted as instructed by a third party. He could not surrender his decisions to a third party. He had to act honestly, in good faith, and in the company’s best interests, exercising appropriate skills at a level expected of others acting in comparable circumstances. This director had acted in breach of those duties when, acting on the instructions of third parties in the mannr described, he had caused it to enter into transactions which later proved to be worthless
Lord Mance, Lord Clarke, Lord Sumption, Lord Carnwath,Lord Toulson
[2015] UKPC 11, [2015] WLR(D) 150, [2015] BUS LR D7
Bailii, WLRD
Commonwealth
Cited by:
Cited – Paymaster (Jamaica) Ltd and Another v Grace Kennedy Remittance Services Ltd PC 11-Dec-2017
(Court of Appeal of Jamaica) The parties disputed the ownership of copyight in certain computer software, and also an allegation of the misuse of confidential information. . .
Lists of cited by and citing cases may be incomplete.
Commonwealth, Company
Updated: 29 December 2021; Ref: scu.545677
