The Business Law Reports
[2014] Bus LR 1110
Chancery Division
Richmond Pharmacology Ltd v Chester Overseas Ltd and others
[2014] EWHC 2692 (Ch)
2014 July 9,
10,
11,
14–
16;
Aug 1
Stephen Jourdan QC sitting as a deputy High Court judge
Company— Director— Breach of duty— First defendant company having minority shareholding in claimant company— Second and third defendants appointed by first defendant to claimants’ board of directors— First defendant marketing its minority holding in claimant to third parties— Whether in course of marketing shares first defendant disclosing claimant’s confidential information to third parties— Whether breaching obligations to claimant under shareholder agreement— Test for determining whether director in breach of general statutory duties— Whether by causing first defendant to breach agreement second and third defendants breaching statutory and equitable duties owed to claimant— Whether claimant estopped from asserting that defendants in breach of duties—
Companies Act 2006 (c 46), ss 172, 174, 175