Director of company purchasing property – Director offering to pass property on to another company of which he was also a director – Offer accepted – Arrangement that no loss to be borne by director – Arrangement not approved in general meeting – Collapse in property market – Whether loss of value of property subsequent to arrangement recoverable – Whether costs of holding and realising property recoverable
David Richards QC and Kenneth Craig (instructed by Clarks of Reading) appeared for the appellant; Philip Hoser (instructed by Vizards) appeared for the respondents.
See:
[1998] PLSCS 154
