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UK SC Rules On Secret Commission Case

Published on Wed, Sep 24,2014 | 21:14, Updated at Wed, Sep 24 at 21:14Source : 

Recently, the Supreme Court of United Kingdom (“UK Supreme Court”) in FHR European Ventures LLP and others v. Cedar Capital Partners LLC1, has opined on an interesting question of law, whether a bribe or secret commission received by an agent is held by that agent on trust for his principal, or whether the principal merely has a claim for equitable compensation in a sum equal to the value of the bribe or commission. Notably, if the bribe or commission is held on trust, the principal has a proprietary claim to it, or if the principal merely has a claim for equitable compensation, the claim is not proprietary. For more please read the attached report by Nishith Desai Associates.

Disclaimer: The information/opinions expressed in this report/newsletter are those of the author. This website has not verified the accuracy of the claims made in the report/newsletter, nor does it agree or disagree with, or endorse any information/opinions contained therein.

Attachments : NishithDesai_Hotline.pdf

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