UK: England and Wales: access to privileged legal advice?

The ICLR has published, as part of its WLR Daily service, a summary for BBGP Managing General Partner Ltd and others v Babcock & Brown Global Partners [2010] EWHC 2176 (Ch): see here. The judgment has not yet been added to BAILII. The summary's headnote reads:

The direct shareholder of a company which was the client of a solicitor, having access to privileged legal advice under the principle of common interest, was not entitled to share such material with its own shareholders. Nor was the direct shareholder entitled to see privileged material which might relate to external claims, on the ground of lack of common interest".

Update (5 October 2010): a copy of the judgment has been published on BAILII: see here.