A director had bought land belonging to the company, without disclosing its development potential.
Held: He had acquired the property as a constructive trustee for the company, and was accordingly accountable for it.
Citations:
[2001] EWCA Civ 1467, [2002] 1 BCLC 162
Links:
Statutes:
Jurisdiction:
England and Wales
Citing:
Application for leave – J J Harrison (Properties) Ltd v Harrison CA 16-Jul-2001
Application for permission to appeal, an application for permission to adduce fresh evidence on the appeal, and an application for an extension of time in which to appeal. . .
Cited by:
Cited – Newgate Stud Company, Newgate Stud Farm Llc v Penfold, Penfold Bloodstock Limited ChD 21-Dec-2004
The claimants sought damages from the defendant. He had been employed to manage their horse-racing activities, and it was alleged that he had made secret profits. The defendant denied any dishonesty, saying all matters were known to the deceased . .
Cited – Ultraframe (UK) Ltd v Fielding and others ChD 27-Jul-2005
The parties had engaged in a bitter 95 day trial in which allegations of forgery, theft, false accounting, blackmail and arson. A company owning patents and other rights had become insolvent, and the real concern was the destination and ownership of . .
Cited – Halton International Inc Another v Guernroy Ltd CA 27-Jun-2006
The parties had been involved in investing in an airline to secure its future, but it was now said that one party had broken the shareholders’ or voting agreement in not allowing further investments on a pari passu basis. The defendants argued that . .
Lists of cited by and citing cases may be incomplete.
Limitation, Company, Trusts
Updated: 13 June 2022; Ref: scu.201401