The misapplication of company money in the form of ultra vires payments of interest to shareholders was treated as a breach of trust by the directors.
Citations:
[1892] 1 Ch 154
Jurisdiction:
England and Wales
Cited by:
Cited – DEG-Deutsche Investitions und Entwicklungsgesellschaft mbH v Koshy and Other (No 3); Gwembe Valley Development Co Ltd (in receivership) v Same (No 3) CA 28-Jul-2003
The company sought to recover damages from a director who had acted dishonestly, by concealing a financial interest in a different company which had made loans to the claimant company. He replied that the claim was out of time. At first instance the . .
Lists of cited by and citing cases may be incomplete.
Company
Updated: 06 July 2022; Ref: scu.187431