Hosking v Marathon Asset Management Llp

Hosking v Marathon Asset Management Llp

Profit share of a partner or LLP member can be subject to forfeiture for breach of fiduciary duty where, in substance, it represents remuneration for services performed, not merely an ownership interest; the forfeiture principle applies to such remuneration even if paid as profit share.

Source-derived case information.

Parties
Claimant: Jeremy Hosking; Defendant: Marathon Asset Management LLP
Jurisdiction
England and Wales
Judgment Date
05 October 2016
Procedural Posture
Arbitration Appeal / Judgment on Appeal From Arbitration Award
Outcome
Appeal dismissed
Legal Topics
Forfeiture of Remuneration, Fiduciary Duties, Profit Share in Partnerships and Llps
Equity Partnership Law Arbitration Forfeiture of Remuneration Fiduciary Duties Profit Share in Partnerships and Llps

Source-derived case record

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 2 Authorities cited 23 Party arguments 2 Amounts and remedies 3
Sign in to unlock

Parties

Jeremy Hosking

Claimant

Marathon Asset Management LLP

Defendant

Procedural Posture

Arbitration Appeal / Judgment on Appeal From Arbitration Award

Legal Issues

  1. 1 Whether the share of profits of a partner or LLP member can be subject to forfeiture for breach of fiduciary duties

Ratio Decidendi

Profit share of a partner or LLP member can be subject to forfeiture for breach of fiduciary duty where, in substance, it represents remuneration for services performed, not merely an ownership interest; the forfeiture principle applies to such remuneration even if paid as profit share.

Court Disposition

Appeal dismissed

Orders

  • The appeal is dismissed.