This landmark case, scheduled for a hearing in May 2025, promises to provide significant insights into the fiduciary duties of company directors after the commencement of liquidation. The decision is eagerly anticipated, especially regarding the lawfulness of Sheikh Al Jaber’s actions post-insolvency of his company.
The appeal follows a series of court decisions, with the Court of Appeal finding that Sheikh Al Jaber breached his fiduciary duties through the transfer of €67m worth of shares, yet no equitable compensation was deemed necessary due to the shares’ devaluation. The Supreme Court will now consider these pivotal issues.
South Square’s Joe Curl KC and Jon Colclough will represent the respondents, the Joint Liquidators of MBI International & Partners Inc, instructed by Clyde & Co.