Angel Group Ltd and others (in liquidation) v Davey

Company – Liquidation. The defendant director of the claimant companies, which were in liquidation, was held to be in breach of trust by selling certain properties between 2012 and 2017, either because those properties had been held on trust for the first or second claimant companies, or, alternatively, because any transfer of the beneficial interest in the properties in 2011 had been a breach of her fiduciary duty as a director. The Chancery Division further ruled that the diversion of £550,000, which had been paid in a settlement of a claim brought by the first claimant company, into the defendant's personal bank account, had been a breach of fiduciary duty.

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