Allied Business & Financial Consultants Ltd was a small company, with its office above the Charles Dickens pub at 160 Union Street in Southwark.

Ms O'Donnell had fallen out with the other members allegedly after (among other things) Mr Shanahan had diverted a property investment opportunity - to buy an interest in the fifth floor of Aria House, above the Playhouse Theatre, 23 Craven Street, near Embankment - to one of his own companies.

Richard Sheldon QC held, based on the old case of Aas v Benham [1891] 2 Ch 244 that the particular opportunity taken up by Mr Shanahan's company fell outside the scope of Allied's business.

In this particular case it was clear that Mr Shanahan had acted without the company's fully informed consent.

The opportunity had come to Mr Shanahan in his capacity as a director of Allied Business Ltd, and so must in principle be accountable for any profit.