The WLR Daily case summaries
[2021] WLR(D) 193
Court of Appeal
Wood v Commercial First Business Ltd and others
Business Mortgage Finance 4 plc v Pengelly
[2021] EWCA Civ 471
2020 Nov 11, 12; 2021 March 31
David Richards, Males, Elisabeth Laing LJJ
Agency— Fiduciary duty— Secret commission— Lender paying secret commissions to broker for arranging secured loans with borrowers— Borrowers seeking rescission of loans and associated security on basis of commissions being paid without their knowledge or consent— Whether fiduciary relationship between borrowers and broker necessary for grant of relief from undisclosed commission