Regal (Hastings) Ltd v Gulliver [1967]


  • This case was heard in 1941, but not reported until 1967
  • Several directors and their solicitor each invested their own money into a cinema which was to be taken over, in order to prevent the cinema becoming insolvent
  • Following the takeover, the directors and the solicitor made significant personal profit, as did the cinema itself as a result of the investment


  • Were the directors and the solicitor liable to the new parent company for their personal profits


  • Directors yes, solicitor no


  • As agents of the business, the directors were liable for breaching their fiduciary duties without consent
RELATED CASE  Mercedes-Benz Financial Services v HMRC [2014]

Posted in Commercial Law Revision Notes.

This page was last updated on 31st December 2014

© 2020 Webstroke Law - Terms and Privacy Policy