Professional Documents
Culture Documents
DD Best Interest PDF
DD Best Interest PDF
PERCIVAL WRIGHT
F:A DIRECTOR WAS APPROACHED BY A SHAREHOLDER WISHING TO
SELL HIS SHARES. THE DIRECTOR AGREED WITHOUT DISCLOSING
PENDING TAKEOVER BID. THE SHAREHOLDER CLAIMED THAT THE
DIRECTOR HAD BREACH THE FIDUCIARY DUTY.
ALLEN V HYATT
F: DIRECTORS APPROACHED THE SHAREHOLDERS AND INDUCED
THEM TO GIVE THE OPTION TO PURCHASE THEIR SHARES FOR THE
PURPOSE OF AMALGAMATION AND THE DIRECTORS MADE PROFIT
H: DIRECTORS BECAME AGENTS OF THE SHAREHOLDERS & OWE
SUCH DUTY TO THEM
EXCEPTION
• IN OTHER SPECIAL CIRCUMSTANCES (SPECIAL FACTS FIDUCIARY
RELATION) I.E.NATURE OF THE COMPANY & TRANSACTION,
DEPENDENCE OF THE SHAREHOLDERS ON THE DIRECTORS ETC
Best interest of
the company
THE TEST
Creditors Nominee
Director
Honest,
Disclose
wrong doing