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United Kingdom Leading Case no profitno conflictprofitsallowance

Boardman v Phipps

[1967] 2 AC 46
JurisdictionUnited Kingdom
CourtHouse of Lords
Year1967
StatusBinding authority

Key Principle

A fiduciary who obtains information and an opportunity by virtue of their fiduciary position holds any profit made on constructive trust for the beneficiaries, even if acting in good faith and the trust suffered no loss.

Area of Law

trusts

Related Cases

Test Claimants in the FII Group Litigation v HMRC (No 2) [2020] UKSC 47
Children's Investment Fund Foundation v Attorney General [2020] UKSC 33
Investment Trust Companies v Revenue and Customs Commissioners [2017] UKSC 29

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