Wood v Priestley and another

Company – Liquidator. The Chancery Division dismissed the claimant insolvency practitioner's claim for an indemnity arising out of a partnership agreement. The court held that, on the true construction of the agreement, the partners of the firm in which the claimant worked were not bound to indemnify him in respect of the costs and expenses and/or any award made regarding an allegation that he and another had been guilty of misfeasance and/or in breach of fiduciary duty.

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