ICYMI – Hong Kong Court of Final Appeal decision on Directors’ Fiduciary Duties

The Hong Kong Court of Final Appeal has recently issued a decision on directors’ fiduciary duties in Cheng Wai Tao v Poon Ka Man Jason [2016] HKCFA 23.

The court found that reliance cannot be placed in the English decision London and Mashonaland Exploration Co Ltd v New Mashonaland [1891] WN 165 which is usually regarded as the authority for the notion that the holding of directorships in competing companies does not constitute a violation of directors’ duties in itself.