When to seek an Account of Profits

An account of profits is commonly sought in aid of common law rights such as upon dissolution of a partnership or it can be sought for breach of an equitable obligation such as a breach of fiduciary duty. 

Simplistically, it involves two stages where the first is working out what is owed and the second stage is an order for the payment of the amount found due. 

In many cases the amount of the profit will be the benefits acquired but different considerations could apply where there was an honest mistake and credit it to be given for the labour and skill of the defendant. 

To find out more about how the remedy of account could apply in your circumstances call us to book a conference to discuss the circumstances of your case. 

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