{"id":186046,"date":"2025-04-15T12:21:21","date_gmt":"2025-04-15T12:21:21","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/legal\/corporate-law-and-governance-uk-england-and-wales-a-fiduciary-relationship\/"},"modified":"2025-04-15T12:21:21","modified_gmt":"2025-04-15T12:21:21","slug":"corporate-law-and-governance-uk-england-and-wales-a-fiduciary-relationship","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=186046","title":{"rendered":"Corporate Law and Governance: UK: England and Wales: a fiduciary relationship?"},"content":{"rendered":"


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Judgment was delivered today by Mrs Justice Cockerill<\/a> in Kelly v Baker and Braid [2022] EWHC 1879 (Comm)<\/a>. The case is interesting because of the circumstances in which the trial judge was required to consider whether fiduciary duties were owed to a shareholder (Mr Kelly) by those who had led a management buy-out (Mr Baker and Mr Braid).\u00a0<\/p>\n

Mr Kelly argued that Mr Baker and Mr Braid (who had worked in, or for, various family companies over the years) had failed to inform him that the transaction – the sale of two family businesses for \u00a3100 million – was a management buy-out. Mr Kelly argued that he trusted Mr Baker and Mr Braid implicitly and that they were in a position of trust because of the nature of their relationship with the Kelly family. The trial judge found that no fiduciary relationship existed and observed (at para. [80]): <\/p>\n

\n …there is no set of circumstances remotely akin to the quasi-familial closeness which in some of the cases has been found to exceptionally create a fiduciary relationship. Further I note that even if such a relationship of closeness had been made out that would not have created a fiduciary relationship as regards this particular transaction \u2013 here one must have in mind the dicta in such cases as Vald Nielsen<\/a> (at [744]) as regards the scope of the duty.”<\/p><\/blockquote>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

Judgment was delivered today by Mrs Justice Cockerill in Kelly v Baker and Braid [2022] EWHC 1879 (Comm). The case is interesting because of the circumstances in which the trial judge was required to consider whether fiduciary duties were owed to a shareholder (Mr Kelly) by those who had led a management buy-out (Mr Baker […]<\/p>\n","protected":false},"author":1,"featured_media":111268,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[97],"tags":[11520,4130,45634,7727,12685,17663,9699],"dealstore":[],"offerexpiration":[],"class_list":["post-186046","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legal","tag-corporate","tag-england","tag-fiduciary","tag-governance","tag-law","tag-relationship","tag-wales"],"yoast_head":"\nCorporate Law and Governance: UK: England and Wales: a fiduciary relationship? - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=186046\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Corporate Law and Governance: UK: England and Wales: a fiduciary relationship? - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Judgment was delivered today by Mrs Justice Cockerill in Kelly v Baker and Braid [2022] EWHC 1879 (Comm). The case is interesting because of the circumstances in which the trial judge was required to consider whether fiduciary duties were owed to a shareholder (Mr Kelly) by those who had led a management buy-out (Mr Baker […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fivemor.com\/?p=186046\" \/>\n<meta property=\"og:site_name\" content=\"Som2ny Network\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-15T12:21:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/02\/uk-lgflag.gif\" \/>\n\t<meta property=\"og:image:width\" content=\"581\" \/>\n\t<meta property=\"og:image:height\" content=\"305\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/gif\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/fivemor.com\/?p=186046#article\",\"isPartOf\":{\"@id\":\"https:\/\/fivemor.com\/?p=186046\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/fivemor.com\/#\/schema\/person\/b85e3c3dc0e1daea076524dc8810c371\"},\"headline\":\"Corporate Law and Governance: UK: England and Wales: a fiduciary relationship?\",\"datePublished\":\"2025-04-15T12:21:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/fivemor.com\/?p=186046\"},\"wordCount\":234,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/fivemor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/fivemor.com\/?p=186046#primaryimage\"},\"thumbnailUrl\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/02\/uk-lgflag.gif\",\"keywords\":[\"Corporate\",\"England.\",\"Fiduciary\",\"governance\",\"law\",\"Relationship\",\"Wales\"],\"articleSection\":[\"Legal\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/fivemor.com\/?p=186046#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fivemor.com\/?p=186046\",\"url\":\"https:\/\/fivemor.com\/?p=186046\",\"name\":\"Corporate Law and Governance: UK: England and Wales: a fiduciary relationship? 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