Andrew Stafford QC speaks on the subject of Duty of Fidelity
Square One Law’s corporate and commercial team recently hosted a seminar led by Andrew Stafford QC of Trinity Chambers on the modern issues and pitfalls surrounding fiduciary duties.
Andrew Stafford QC is a leading expert in the field of commercial litigation on breach of fiduciary duties, establishment of competing businesses and more specifically failure to disclose conflicts of interest. Andrew Stafford is the joint author of a leading work entitled “Fiduciary Duties: Directors & Employees”, and an Advisory Board member of Gore-Browne on Companies.
He spoke on common causes of action where individuals in positions of trust within a company are tempted to abuse their position in order to reap secret profits, set up in competition or poach staff and customers.
Among these common themes, Andrew highlighted the important duties that directors and employees should be mindful of through the use of case law examples and an explanation of the UK statutory footing. On a brief summary of recent case law, Andrew reviewed the evolving stance of the courts when deliberating on what reach of contractual relationship created fiduciary duties between parties which could hold major repercussions for directors of joint venture companies.
In contrast to the more traditional defences of disclosure and consent Andrew went on to speak about the modern applications by the courts of functional tests laid down by notable case law such as Fishel v Nottingham University . In conclusion there was a discussion on the emergence of a wider range of remedies in the field including the use of springboard injunctions and the breach of duty of fidelity.