It is common for claims against directors for breach of the fiduciary duties to raise issues of limitation. This is because the company may often have remained under the wrongdoing directors’ control for some time after the alleged breaches of duty were committed.
The recent decision of the Court of Appeal in First Subsea Ltd v Balltec Ltd & Ors  EWCA Civ 186 (“First Subsea”) has provided clarification as to the meaning of ‘trustee’ in s. 21 and its application to claims against company directors for fraudulent breaches of fiduciary duty.
Pupil Thomas Horton considers the decision as part of the latest edition of our Commercial and Insolvency Update.
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April 12, 2021