Central Bank of Ecuador and others v Conticorp SA and others

Company – Director. The Privy Council held that the respondents were jointly and severally liable to the second appellant mutual fund, IAMF, for dishonestly procuring and assisting IAMF's sole director and nominated investment advisor in breaches of duty towards IAMF in entering into three transactions. Consequently IAMF was entitled to recover from the respondents the face value of the cash, loans (with accrued interest) and shares it had transferred or surrendered by those transactions.

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