Thursday 20 March 2014
UK: Supreme Court to hear Jetivia appeal
The Supreme Court has published an updated list of permission to appeal decisions: see here (pdf). This notes that on 11 February permission was given to appeal the Court of Appeal's decision in Jetivia SA v Bilta (UK) Ltd [2013] EWCA Civ 968. The Court of Appeal had held, amongst other things, that section 213 ("fraudulent trading") of the Insolvency Act 1986 was of extraterritorial effect. It also held that a company could recover losses that it had suffered as a result of the fraud of its sole director and shareholder. In such a case the director could not rely on the maxim ex turpi causa non oritur actio to defeat the company's claim. A summary of the Court of Appeal's decision is available here.
Labels:
director,
directors' duties,
fiduciary,
insolvency act 1986,
supreme court,
uk
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