The UK Supreme Court’s decision in Stevens v. Hotel Portfolio II UK Ltd has clarified the liability of dishonest assistants in cases of breaches of a constructive trust of secret profits. It also provides helpful guidance on determining liability in cases of successive breaches of fiduciary duties, specifically in relation to the application of the compensatory principle and ‘but for’ test, and the availability (or lack thereof) of a right to set off gains against losses caused by the b...
