Monday 13 July 2020

UK: Supreme Court judgment this week in Sevilleja v Marex Financial

The UK Supreme Court will hand down its judgment in Sevilleja v Marex Financial Ltd on Wednesday this week: see here. The case - on appeal from [2018] EWCA Civ 1468, [2018] WLR (D) 395 -  looks set to be one of the most important company and insolvency law cases of the year and was heard, unusually, by a panel of seven justices. The court identified, in its summary of the case, the main issue before it thus: "Whether the rule against reflective loss bars creditors of a company from claiming directly against a third party for asset-stripping the company".

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