Tag Archives: statutory duty

Liability to account for future profits: an expansion of the available remedies for knowing assistance?

In its recent decision in Ancient Order of Foresters in Victoria Friendly Society Limited v Lifeplan Australia Friendly Society Limited [2018] HCA 43, the High Court has highlighted the expansive remedies that can be ordered against a party who is found to have knowingly assisted in a breach of fiduciary or statutory duty, including ordering an account of anticipated future profits not yet (and potentially not ever) derived. This decision serves as a warning to those who knowingly assist employees, directors or officers and other fiduciaries to breach their duties that the financial liability of such conduct may far outweigh the actual benefits received.

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