... of a trust shareholding in a company to be diminished by improper diversion or use of the relevant company's assets. The events that gave rise to this action were connected with efforts by Mr Walker and the Brent Walker Group Plc to prevent that company's financial collapse following the takeover of William Hill and the Mecca group of companies, and the ensuing bond issue and debt restructuring. Decision The principle in the Prudential Assurance case was considered but the Court of Appeal's decision was based on the principle that, provided claimants can prove that they have suffered a quantifiable financial loss caused by the actionable fault of the defendant, they may recover those losses as damages. The Court held that the Prudential Assurance principle will not deprive a claimant of an otherwise good cause of action in a case where: the claimant can establish that the defendant's conduct constituted a ...

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