The Supreme Court constrains shareholder claims: A brief reflection on ‘Reflective Loss’

The UK Supreme Court’s ‘back to basics’ analysis of the interests of a shareholder in a company reverses an expanding line of judicial thinking. The significant judgment on appeal in Marex Financial Limited v Sevilleja [2020] UKSC 31 both affirms a long-held principle of company law but also marks a retreat from its development over a quarter of a century.

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