Privy CouncilPublished August 5, 2020Ciban Management Corporation v Citco (BVI) Ltd and anotherBefore Lord Hodge, Lady Black, Lady Arden, Lord Leggatt and Lord Burrows[2020] UKPC 21Judgment July 30, 2020Where the sole shareholder of an offshore company chose to hide from public view his position as ultimate beneficial owner and to control the company by using an associate to pass on instructions to a nominee director service and later the associate, without the sole shareholder’s knowledge, instructed the nominee director to sell the company’s assets, the ostensible authority conferred by that shareholder on the associate counted as ostensible authority conferred on him by the company itself, so that the company would not be allowed to deny that it had authorised

Source: The Times August 04, 2020 22:52 UTC