Vital Engineering (Pty) Ltd v Pringle (2019/7031)
Vital Engineering (Pty) Ltd v Pringle (2019/7031) [2023] ZAGPJHC 505 (18 April 2023)
The court found that the defendant, while acting as managing director, instructed the payment of legal fees for his personal matter from company funds without board authority, constituting a breach of fiduciary duty. The applicant's evidence, including witness statements and supporting documents, was accepted as credible and unchallenged. The defendant's version was rejected due to lack of substantiation and failure to testify. The quantum of damages was proved on a balance of probabilities. The court held that the applicant was entitled to recover the full amount paid, with interest, and cos…
Source excerpt
- Breach Of Fiduciary Duty
- Director Liability
- Damages For Unauthorised Payments
- Commercial Court Practice
- Mora Interest