What are the remedies if there is a breach of fiduciary duty?

There are many situations where a breach might arise and the consequences will depend upon the nature and extent of the breach as well as the intention of the person who is in breach. If a Trustee for example is in breach, he may well be asked to make up the loss himself. If an executor is in breach, he too will be personally accountable. If he has invested in shares not of a type allowed in the will, he will be in breach and personally liable for any financial loss that occurred as a result of his breach.

A director of a limited company has obligations towards the shareholders. It is a position of the utmost trust and if he fails to exercise reasonable care, for example preferring a creditor to another prior to liquidation of the company, or trading whilst insolvent, he may be on the receiving end of proceedings from the liquidator seeking to make him personally liable. Even a shadowe director who might not be in name a director but is in actual fact a director in practice can also be held to be personally liable

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