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FHR European Ventures LLP v Mankarious

Hearings

England & Wales

29 Jan 2013 [2013] EWCA Civ 17; [2014] Ch 1; [2013] 3 WLR 466; [2013] 3 All ER 29; [2013] 2 All ER (Comm) 257; [2013] WLR (D) 32; [2013] 1 Lloyd’s Rep 416, CA

16 Jul 2014 [2014] UKSC 45; [2015] AC 250; [2014] 3 WLR 535; [2014] 4 All ER 79; [2014] 2 All ER (Comm) 425; [2014] WLR (D) 317; [2014] 2 Lloyd’s Rep 471; Case details, SC(E)

Additional names

FHR European Ventures LLP v Cedar Capital Partners LLC

Subject Matter

AGENCY — Fiduciary duty — Secret commission — Agent acting for purchasers in negotiations 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 constructive trust for purchasers on basis that it had exploited opportunity which purchasers would otherwise have had — Whether constructive trust arising only where possible to identify some form of beneficial ownership of opportunity — Whether purchasers entitled to proprietary remedy against agent — Whether agent's liability to purchasers limited to equitable compensation in sum equal to commission

[2014] Ch 1; [2015] AC 250; [2013] 3 WLR 466; [2014] 3 WLR 535

Appellate History

FHR European Ventures LLP v Mankarious [2011] EWHC 2999 (Ch)

Decision of Simon J reversed

FHR European Ventures LLP v Mankarious [2013] EWCA Civ 17; [2014] Ch 1; [2013] 3 WLR 466; [2013] 3 All ER 29; [2013] 2 All ER (Comm) 257; [2013] WLR (D) 32; [2013] 1 Lloyd’s Rep 416, CA

Decision of the Court of Appeal affirmed on different grounds

FHR European Ventures LLP v Mankarious [2014] UKSC 45; [2015] AC 250; [2014] 3 WLR 535; [2014] 4 All ER 79; [2014] 2 All ER (Comm) 425; [2014] WLR (D) 317; [2014] 2 Lloyd’s Rep 471; Case details, SC(E)

Commentary

UKSC Blog
Case Comment: FHR European Ventures LLP v Cedar Capital Partners LLC [2014] UKSC 45 [2015] Cas Com 2

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