Richmond Pharmacology Ltd v Chester Overseas Ltd and others

Equity – Breach of confidence. The claimant company, Richmond, formed an agreement with the first defendant company, Chester, whereby Chester would invest in Richmond. Chester subsequently instructed another company to market shares in Richmond. Richmond subsequently claimed that the way in which the shares had been marketed had resulted in a substantial loss of Richmond's business. The Chancery Division held that, on the evidence, although the defendants had committed breaches of their statutory, contractual and equitable duties, none of the breaches of duty committed had caused any loss to Richmond.

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