CMS Dolphin Ltd v Simonet [2001] EWHC Ch 415 is a UK company law case concerning directors' duties.

CMS sued Mr Simonet for the profits he made, alleging that he had breached his duty of loyalty to the company.

Lawrence Collins J held that Mr Simonet resigned without giving proper notice, and so he was in breach of contract.

3 In many cases an account of profits would be a more advantageous remedy than equitable compensation since the actual profits obtained by a director might be higher than the damages for the loss of opportunity suffered by the company, particularly where the company had little or no prospect of obtaining the benefit of the opportunity (Industrial Development Consultants Ltd v Cooley [1972] 1 WLR 443; Canadian Aero Service Ltd v O'Malley (1973) 40 DLR (3rd) 371).

4 Where a director put contracts of a company into a partnership he was fully accountable even if his partners were entitled to part of the profit and were ignorant of his breach of fiduciary duty (Imperial Mercantile Credit Association v Coleman (1873) LR 6 HL 189).