CMS Dolphin Ltd v Simonet [2001] EWHC Ch 415
Country:
United Kingdom
Reviewed By Oxbridge Law Team
Updated 2024-01-04 07:05:55 UTC
Two people formed advertising agency.
Defendant resigned as director and set up rival business, which proceeded to poach all of former company’s staff and clients.
However by time of court case, new company was insolvent; thus issue was whether former company could claim account of profits from defaulting director himself.
Held
Defendant took corporate opportunities from former company
-
These opportunities were ‘property’ of former company.
Thus trustee-type remedies follow.
-
Defendant is jointly liable with insolvent company for profits.
Even though the profits had been paid directly to insolvent company.
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