Da Silva v C H Chemicals (PTY) LTD : Fiduciary Duties of Resigning Directors

It is a well-entrenched principle of corporate law that a director has a fiduciary duty not to make a secret profit out of his trust, and must not place himself in a position in which his duty and self-interest may conflict. This article evaluates a controversial judgment of the South African Supreme Court of Appeal, with reference to the duty of directors to avoid a conflict of interest, the corporate opportunity doctrine, and the no-profit rule. Reference is made to relevant case law of the USA and the UK