The Law Reports (Appeal Cases)
[2015] AC 250
Supreme Court
FHR European Ventures LLP and others v Cedar Capital Partners LLC
[on appeal from FHR European Ventures LLP v Mankarious]
[2014] UKSC 45
2014 June 17,
18,
19;
July 16
Lord Neuberger of Abbotsbury PSC, Lord Mance, Lord Sumption, Lord Carnwath, Lord Toulson, Lord Hodge JJSC, Lord Collins of Mapesbury
Agency— Fiduciary duty— Secret commission— Agent acting for purchasers in negotiation for purchase of hotel— Agent receiving secret commission from vendor following sale of hotel— Agent liable to account to purchasers for commission— Whether agent holding commission sum on trust for purchasers— Whether purchasers entitled to proprietary remedy against agent— Whether agent’s liability to purchasers limited to equitable compensation in sum equal to commission