S - Shareholders
15/7/20
SEVILLEJA v MAREX FINANCIAL LTD [2020] UKSC 31
A person who is a creditor and not shareholder of a company is not subject to any rule of law which prevents a claim against the company to recover loss which the company itself has a claim to recover. The majority of the court confirmed that the rule of law applies to only to claims by shareholders to recover loss in value of their shares because only the company suffers that loss, not the shareholder. The minority of the court doubted that there is any such rule of law and would instead limit such claims by applying rules against double recovery, including subrogation.
28/10/19
SL CLAIMANTS v TESCO PLC [2019] EWHC 2858 (Ch)
The claimants had a sufficient interest in shares held in dematerialised form through the CREST system to bring claims against a company to recover losses in respect of decisions to invest in the company's shares in reliance on information published by the company which was alleged to have been untrue or misleading.
20/6/19
GRANADA UK RENTAL AND RETAIL LTD v PENSIONS REGULATOR [2019] EWCA Civ 1032
Considers the meaning of “associate” in s 435 Insolvency Act 1986. A person registered as the holder of shares carrying a third or more of the total votes attaching to the relevant company’s issued shares, and so as between himself and the company “entitled to exercise … one third or more of the voting power” is also to be considered an associate of the company within s 435(10)(b) [129].