solicitor, and Phipps, one of the beneficiaries.
shares in company to enable them, with support of other beneficiaries, to take
profits on the shares they had purchased.
for these profits, said to be acquired in conflict of interest with the trust.
(although as they had acted bona fide throughout, entitled to liberal payment
for their work).
through position as fiduciary and any profits made from using that information were
profits arising from fiduciary office, which must be accounted for unless
equally with B whatever the outcome, though P, as beneficiary, obviously did
not stand in same fiduciary capacity.
conflict of duty and interest.