Kings Security Systems Ltd v King & Anor

Kings Security Systems Ltd v King & Anor

Mr King breached his fiduciary, statutory, and contractual duties by authorising and benefiting from the Range Rover Transaction, which was funded by KSSL without board knowledge and constituted a bribe. The Settlement Agreement was induced by misrepresentation and validly rescinded. KSSL is entitled to damages for lost profit share and rescission. Mr King's counterclaim for abuse of process fails as the proceedings were not brought for an improper purpose.

Parties
Claimant: Kings Security Systems Limited; First Defendant: Anthony Douglas King; Second Defendant: Stephen John James Evans
Jurisdiction
England and Wales
Judgment Date
18 February 2021
Procedural Posture
Civil / Final Judgment After Trial
Outcome
Claim allowed in part; counterclaim dismissed.
Legal Topics
Director's Duties, Bribery, Fiduciary Duty, Misrepresentation, Rescission, Abuse of Process, Settlement Agreements
Company Law Contract Law Employment Law Tort Law Director's Duties Bribery Fiduciary Duty Misrepresentation +3 more

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Parties

Kings Security Systems Limited

Claimant

Anthony Douglas King

First Defendant

Stephen John James Evans

Second Defendant

Procedural Posture

Civil / Final Judgment After Trial

Legal Issues

  1. 1 Did the Range Rover Transaction constitute a bribe?
  2. 2 Did the Range Rover Transaction give rise to breaches of duty?
  3. 3 Was the Range Rover Transaction authorised by KSSL’s shareholders?

Ratio Decidendi

Mr King breached his fiduciary, statutory, and contractual duties by authorising and benefiting from the Range Rover Transaction, which was funded by KSSL without board knowledge and constituted a bribe. The Settlement Agreement was induced by misrepresentation and validly rescinded. KSSL is entitled to damages for lost profit share and rescission. Mr King's counterclaim for abuse of process fails as the proceedings were not brought for an improper purpose.

Court Disposition

Claim allowed in part; counterclaim dismissed.

Orders

  • Mr King to pay KSSL £45,666.47 in damages.
  • Settlement Agreement rescinded; Mr King to repay £5,000.