Directors

The High Court has considered the consequences of a failure by a director to disclose a conflict of interest. Although third party interests had intervened to prevent the relevant property transaction from being set aside other remedies such as an account, might be available. A delay of 12 years between the transaction and the company seeking relief did not constitute laches because the company was unaware of the full facts until shortly before it commenced the proceedings – JJ Harrison (Properties) Ltd v. Harrison [2001] 1 B.C.L.C. 158.

“Palmer’s In Company” 14th May 2001