Boardman v Phipps (1967) addresses whether individuals acting in a fiduciary capacity can profit from information gained during that role. The court held that even with good intentions, fiduciaries must account for any personal gains, affirming strict fiduciary obligations.
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🏛️ Court: House of Lords 🗓️ Judgment Date: 3 November 1966 🗂️ Where Reported: [1967] 2 A.C. 46; [1966] 3 W.L.R. 1009; [1966] 3 All E.R. 721 📍 Jurisdiction: United Kingdom
Constructive Trust: The court in Boardman v Phipps imposed a constructive trust over the profits made by the fiduciaries, requiring them to hold these profits for the benefit of the trust. This doctrine serves as a remedy to prevent unjust enrichment in breach of fiduciary duty cases.
