The UK Supreme Court has reinstated a €67 million award to the Krys Global liquidators in Mitchell & another v Sheikh Mohamed Bin Issa Al Jaber & others, confirming that a director who acts after a company’s liquidation can assume fiduciary duties and be held accountable for misappropriation. The Court clarified that there is no set time from which equitable compensation must be measured, and the burden is on the fiduciary to prove any events reducing that loss.
1. Mitchell and another v Sheikh Mohamed Bin Issa Al Jaber and another
The UK Supreme Court handed down its judgment this afternoon in the above case, in which the Insolvency and Reorganisation…