Richmond Pharmacology Ltd v Chester Overseas Ltd and others – WLR Daily

Richmond Pharmacology Ltd v Chester Overseas Ltd and others [2014] EWHC 2692 (Ch); [2014] WLR (D) 365

‘The test of whether there was a breach of the duty under section 175 of the Companies Act 2006 was objective, and did not depend on whether the director was aware that what he was doing was a breach of his duty. It was no defence to a claim for breach of this duty that the director had acted in good faith. Nor was it a defence that the director had acted reasonably, but wrongly, had thought that he had been entitled to do what he had done.’

WLR Daily, 1st August 2014

Source: www.iclr.co.uk