Reviewed case brief
Regal (Hastings) Ltd v Gulliver
[1967] 2 AC 134
The House of Lords held that directors who acquire profit by reason of their fiduciary position must account for it to the company. The rule applies strictly — it is immaterial that the directors acted honestly, that the company suffered no loss, or that the company could not itself have obtained th
- Court
- House of Lords
- Year
- 1967
- Subjects
- Company Law
- Reviewed
- 2026-06-30
Rule established
Directors must account for any profit made by virtue of their position; the no-profit rule is strict and applies irrespective of whether the company could have obtained the profit itself or suffered any loss.
Facts
Issues
Held
Ratio decidendi
How to use it in an exam
Editorial source
[1967] 2 AC 134
Educational summary only. Read the reported judgment or an authorised law report before relying on the case professionally.