Paul Davidson, the trader known equally "the Plumber", is appealing against a High Court summary judgment that he breached his fiduciary duties to a society which held the patent to a revolutionary pipe-fitting device. The breach resulted from his component subdivision at Easyrad, where he held a 52% stake. Davidson was sued past times other owners of Easyrad, afterwards he sold a patent belonging to Easyrad to some other company, Oystertec before its flotation inwards 2001. Davidson was a manager of Oystertec at the float, exactly has since stepped down. The claimants alleged Davidson pulled out of a care to pay them for their part of the patent ownership. The judgment says it is clear from correspondence "they were willing to surrender their shares inwards Easyrad for a global compensation inwards the part of £715,000". Davidson allegedly sold the patent to Oystertec for a nub believed to hold out £3m, exactly refused to compensate the other owners. Davidson is ne...
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