n Without Prejudice - Enforcing directors' responsibilities to their companies : company law
|Article Title||Enforcing directors' responsibilities to their companies : company law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Publication Date||Feb 2014|
|Pages||56 - 57|
In an unprecedented judgement in the case of Tlotlisa Securities (Pty) Ltd v Foveros Investment Holdings (Pty) Ltd and Michael George Carlsson (as yet unreported), the high court awarded damages to Tlotlisa, whose former managing director had abused his position of trust and breached his fiduciary duties to the company by exploiting its lax practices for his own personal gain.
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