FHR European Ventures & ors v Mankarious & ors [2013] EWCA Civ 17

Wills & Trusts Law Reports | May 2013 #129

The claimants (Investor Group) appealed from the decision of Simon J ([2011] EWHC 2308 (Ch)) that the Investor Group was entitled to a personal, but not a proprietary, remedy against Cedar Capital Partners LLC (Cedar). There was no appeal from Simon J’s decision that Cedar was liable to account in equity to the Investor Group.

Monte Carlo Grand Hotel in Monaco was owned by Monte Carlo Hotel SAM, a Monegasque company. The company’s share capital was owned by Monte Carlo Grand Hotel Ltd, a BVI company. In September 2004, the BVI company was interested in se...

Fiduciary Duties: The art of misdirection

Rachel Mainwaring-Taylor finds Aerostar a timely reminder of how directors must be aware of their duties when dealing with multiple companies ‘From a commercial point of view, that there is nothing preventing an individual from holding the office of director in more than one company. In such circumstances they will be obliged to act in …
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