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FHR European Ventures LLP V Cedar Capital Partners LLC
is a landmark decision of the United Kingdom Supreme Court which holds that a bribe or secret commission accepted by an agent is held on trust for his principal. In so ruling, the Court partially overruled '' Sinclair Investments (UK) Ltd v Versailles Trade Finance Ltd'' (a decision of the Court of Appeal of England and Wales) in favour of '' The Attorney General for Hong Kong v Reid (New Zealand) (UKPC)'', a ruling from the Judicial Committee of the Privy Council on appeal from New Zealand. Facts ''Cedar Capital Partners LLC'' ("Cedar" or "the defendants") provided consultancy services to the hotel industry. Cedar agreed to act as the agent of FHR European Ventures LLP ("the Purchaser" or "FHR" or "the claimants") in negotiations for purchase of share capital in Monte Carlo Grand Hotel SAM from Monte Carlo Grand Hotel Ltd ("the Vendor" or "Monte Carlo"). * In September 2004, Cedar entered into an agreement with the Vendor which provided for the payment to Cedar of a €10m fee ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supreme Court Of The United Kingdom
The Supreme Court of the United Kingdom ( initialism: UKSC or the acronym: SCOTUK) is the final court of appeal in the United Kingdom for all civil cases, and for criminal cases originating in England, Wales and Northern Ireland. As the United Kingdom’s highest appellate court for these matters, it hears cases of the greatest public or constitutional importance affecting the whole population. The Court usually sits in the Middlesex Guildhall in Westminster, though it can sit elsewhere and has, for example, sat in the Edinburgh City Chambers, the Royal Courts of Justice in Belfast, and the Tŷ Hywel Building in Cardiff. The United Kingdom has a doctrine of parliamentary sovereignty, so the Supreme Court is much more limited in its powers of judicial review than the constitutional or supreme courts of some other countries. It cannot overturn any primary legislation made by Parliament. However, as with any court in the UK, it can overturn secondary legislation if, for an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Scotland
The Bank of Scotland plc (Scottish Gaelic: ''Banca na h-Alba'') is a commercial and clearing bank based in Scotland and is part of the Lloyds Banking Group, following the Bank of Scotland's implosion in 2008. The bank was established by the Parliament of Scotland in 1695 to develop Scotland's trade with other countries, and aimed to create a stable banking system in the Kingdom of Scotland. With a history dating to the end of the 17th century, it is the fifth-oldest extant bank in the United Kingdom (the Bank of England having been established one year earlier), and is the only commercial institution created by the Parliament of Scotland to remain in existence. It was one of the first banks in Europe to print its own banknotes, and it continues to print its own sterling banknotes under legal arrangements that allow Scottish banks to issue currency. In June 2006, the HBOS Group Reorganisation Act 2006 was passed by the Parliament of the United Kingdom, allowing the bank' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Malcolm Pill
Malcolm, Malcom, Máel Coluim, or Maol Choluim may refer to: People * Malcolm (given name), includes a list of people and fictional characters * Clan Malcolm * Maol Choluim de Innerpeffray, 14th-century bishop-elect of Dunkeld Nobility * Máel Coluim, Earl of Atholl, Mormaer of Atholl between 1153/9 and the 1190s * Máel Coluim, King of Strathclyde, 10th century * Máel Coluim of Moray, Mormaer of Moray 1020–1029 * Máel Coluim (son of the king of the Cumbrians), possible King of Strathclyde or King of Alba around 1054 * Malcolm I of Scotland (died 954), King of Scots * Malcolm II of Scotland, King of Scots from 1005 until his death * Malcolm III of Scotland, King of Scots * Malcolm IV of Scotland, King of Scots * Máel Coluim, Earl of Angus, the fifth attested post 10th-century Mormaer of Angus * Máel Coluim I, Earl of Fife, one of the more obscure Mormaers of Fife * Maol Choluim I, Earl of Lennox, Mormaer * Máel Coluim II, Earl of Fife, Mormaer * Maol Choluim II, Earl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Boardman V Phipps
''Boardman v Phipps'' 966UKHL 2is a landmark English trusts law case concerning the duty of loyalty and the duty to avoid conflicts of interest. Facts Tom Boardman, Baron Boardman, Mr Tom Boardman was the solicitor of a family trust.See the case report at 9672 AC 46 The trust assets include a 27% holding in a company (a textile company with factories in Coventry, Nuneaton and in Australia through a subsidiary). Boardman was concerned about the accounts of the company, and thought that to protect the trust a majority shareholding is required. He and a beneficiary, Tom Phipps, went to a shareholders' general meeting of the company. They realised together that they could turn the company around. They suggested to a trustee (Mr Fox) that it would be desirable to acquire a majority shareholding, but Fox said it was completely out of the question for the trustees to do so. With the knowledge of the trustees, Boardman and Phipps decided to purchase the shares themselves. They bought a m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Terence Etherton
Terence Michael Elkan Barnet Etherton, Baron Etherton, (born 21 June 1951) is a British retired judge and member of the House of Lords. He was the Master of the Rolls and Head of Civil Justice from 2016 to 2021 and Chancellor of the High Court from 2013 to 2016. Early life Etherton attended Holmewood House School and St Paul's School, and studied history and law at Corpus Christi College, Cambridge. He was a member of the British fencing team (sabre) from 1977 to 1980 and was selected to compete at the 1980 Summer Olympics in Moscow, but joined the boycott in protest against the 1979 Soviet invasion of Afghanistan. Legal career Etherton was called to the bar (Gray's Inn) in 1974 and became a Queen's Counsel in 1990. He was appointed a High Court judge on 11 January 2001 and assigned to the Chancery Division, receiving the customary knighthood. In August 2006, he was appointed Chairman of the Law Commission, the statutory independent body created by the Law Commissions Act 19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cook V Deeks
''Cook v Deeks'' 916UKPC 10is a Canadian company law case, relevant also for UK company law, concerning the illegitimate diversion of a corporate opportunity. It was decided by the Judicial Committee of the Privy Council, at that time the court of last resort within the British Empire, on appeal from the Appellate Division of the Supreme Court of Ontario, Canada. Because decisions of the Judicial Committee have persuasive value in the United Kingdom, even when decided under the law of another member of the Commonwealth, 016UKSC 44, para. 12. this decision has been followed in the United Kingdom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bhullar V Bhullar
is a leading UK company law case on the principle that directors must avoid any possibility of a conflict of interest, particular relating to corporate opportunities. It was not decided under, but is relevant to, section 175 of the Companies Act 2006. Facts Bhullar Bros Ltd was owned by families of two brothers. Each side owned 50% of ordinary shares. The directors were Mr Mohan Bhullar, his son Tim, Mr Sohan Bhullar and his sons Inderjit and Jatinderjit. The company had a grocery store at 44 Springwood Street, Huddersfield. It also owned an investment property called Springbank Works, Leeds Road, which was leased to a bowling alley business called UK Superbowl Ltd. In 1998 the families began to fall out. Mohan and Tim told the board they wished for the company to buy no further investment properties. Negotiations began to split up the company, but they were unsuccessful. In 1999, Inderjit went bowling at the UK Superbowl Ltd alley. He noticed that the carpark next door (cal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Intangible Asset
An intangible asset is an asset that lacks physical substance. Examples are patents, copyright, franchises, goodwill, trademarks, and trade names, as well as software. This is in contrast to physical assets (machinery, buildings, etc.) and financial assets (government securities, etc.). An intangible asset is usually very difficult to valuate. They suffer from typical market failures of non- rivalry and non-excludability.Webster, Elisabeth; Jensen, Paul H. (2006). ''Investment in Intangible Capital: An Enterprise Perspective.'' The Economic Record, Vol. 82, No. 256, March, 82-96. Today, a large part of the corporate economy ( NPV) consists of intangible assets. Definition Intangible assets may be one possible contributor to the disparity between "company value as per their accounting records", as well as "company value as per their market capitalization". Considering this argument, it is important to understand what an intangible asset truly is in the eyes of an accountant. A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kim Lewison
Sir Kim Martin Jordan Lewison, PC (born 1 May 1952) is a Lord Justice of Appeal. He is a graduate of Downing College, Cambridge, where he is an honorary Fellow. Early life and education Lewison was born on 1 May 1952 to Anthony Frederick Lewison and Dinora Lewison (née Pines). He was educated at St Paul's School, an all-boys independent school in London. He studied at Downing College, Cambridge. Legal career Lewison was called to the bar ( Lincoln's Inn) in 1975 and has been a Bencher since 2003. He became a Queen's Counsel in 1991. He was appointed an Assistant Recorder in 1994 and a Recorder in 1997. In 2000, he was appointed a Deputy High Court Judge. He was appointed to the High Court of Justice on 29 April 2003 and assigned to the Chancery Division, receiving the customary knighthood. The following year, he was appointed to the Competition Appeal Tribunal The Competition Appeal Tribunal (CAT) of the United Kingdom was created by Section 12 and Schedule 2 to the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Declaration (law)
In law, a declaration is an authoritative establishment of fact. Declarations take various forms in different legal systems. Canon law In the canon law of the Catholic Church, a declaration of nullity, (commonly called an annulment and less commonly a decree of nullity) is authoritative judgment on the part of an ecclesiastical tribunal juridically establishing the fact that a marriage was invalidly contracted or, less frequently, a judgment juridically establishing the fact that an ordination was invalidly conferred. It does not dissolve a valid bond of marriage, but it is merely a factual declaration of the nullity of the bond. Common law In common law, a declaration ordinarily refers to a judgment of the court or an award of an arbitration tribunal that is a binding adjudication of the rights or other legal relations of the parties which does not provide for or order enforcement. Where the declaration is made by a court, it is usually referred to as a ''declaratory judgment' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Peregrine Simon
Sir Peregrine Charles Hugo Simon (born 20 June 1950), is a retired Lord Justice of Appeal. Education and career He was educated at Westminster School and Trinity Hall, Cambridge. He was called to the Bar, Middle Temple in 1973. He was appointed as Queen's Counsel in 1991; as a Bencher in 1999 and Recorder in 1998. He was knighted in 2002 on his appointment as a High Court judge. He was appointed to the Court of Appeal in 2015 and upon this appointment he was sworn in as a member of Her Majesty's Most Honourable Privy Council. This gave him the Honorific Title "The Right Honourable" for Life. He retired on 21 June 2020. Family He is one of the three sons of Jocelyn Simon, Baron Simon of Glaisdale and his second wife, the former Fay Pearson. Notable cases * ''Barrow v Bankside Members Agency Ltd and another'' * ''National Boat Shows (NBS) v Earls Court'' *'' R v Incedal and Rarmoul-Bouhadjar'' *''FHR European Ventures LLP v Cedar Capital Partners LLC is a landmark deci ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Constructive Trusts In English Law
Constructive trusts in English law are a form of trust created by the English law courts primarily where the defendant has dealt with property in an "unconscionable manner"—but also in other circumstances. The property is held in "constructive trust" for the harmed party, obliging the defendant to look after it. The main factors that lead to a constructive trust are unconscionable dealings with property, profits from unlawful acts, and unauthorised profits by a fiduciary. Where the owner of a property deals with it in a way that denies or impedes the rights of some other person over that property, the courts may order that owner to hold it in constructive trust. Where someone profits from unlawful acts, such as murder, fraud, or bribery, these profits may also be held in constructive trust. The most common of these is bribery, which requires that the person be in a fiduciary office. Certain offices, such as those of trustee and company director, are always fiduciary offices. Co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
