Clifford Chance
Fiduciaries, fraud and the diversion of commercial opportunities - recent developments
3 February 2023
Commercial parties often engage the services of trusted fiduciaries to deal with the commercial complexities which frequently characterise modern commercial transactions. Some fiduciaries opportunistically redirect or divert existing or maturing commercial opportunities away from their principal to the benefit of third party associates of the fiduciary, or outright misappropriate such opportunities for themselves.
This briefing looks at how the recalcitrant fiduciary may be held to account for their wrongdoing, in light of recent guidance from the Australian courts. The topic is also examined against the approach taken by other leading common law jurisdictions grappling with these issues.
