- Explained — Giannis Ntzegkoutanis v Georgios Kimonis & Ors 2023-12-12
“…bringing of “derivative actions” by members of a company. At common law, as explained by the Court of Appeal in Prudential Assurance v Newman Industries (No.2) [1982] Ch 204 at 210D-G, such actions operated as an exception to the “proper plaintiff” rule,…”
- Cited — Lawrence Ewan McGaughey & Anor v Universities Superannuation Scheme Limited & Ors 2023-07-21
“…Having set out the two limbed test in Prudential Assurance Co Ltd v Newman Industries Ltd (No 2) [1982] Ch 204 at 221G- 222B, the judge stated that it was implicit in the second limb of that test that the derivative claimant must have a sufficient interest in the procee…”
- Followed — Lawrence Ewan McGaughey & Anor v Universities Superannuation Scheme Limited & Ors 2023-07-21
“…The Court of Appeal in Prudential Assurance Co Ltd v Newman Industries Ltd (No 2) [1982] Ch 204 set out the rule in Foss vHarbottle in the following terms at 210F – 211 B, as follows:…”
- Cited — Lucy Burnford & Ors v Auotmobile Association Developments Limited 2022-11-14
“…The earliest of the cases concerned with “reflective loss” to which we were taken was Prudential Assurance Co Ltd v Newman Industries Ltd (No 2) [1982] Ch 204 (“Prudential”). In that case, the claimant alleged that two directors (Mr Bartlett and Mr Laughton) of a company referred to as “Newman” had conspired together…”
- Considered — UCP Plc v Nectrus Limited 2022-07-11
“…ule against “reflective loss” should be maintained but only to the extent recognised by the Court of Appeal in Prudential Assurance v. Newman Industries (No 2) [1982] Ch 204 [Prudential] where the claim in question was by a shareholder, I consider that the judge in the present case was right to conclude that the rule did not preclu…”
- Cited — Allianz Global Investors GMBH & Ors v Barclays Bank PLC & Ors 2022-03-23
“…“9…It was decided in the case of Prudential Assurance Co Ltd v Newman Industries Ltd (No 2) [1982] Ch 204 that a shareholder cannot bring a claim in respect of a diminution in the value of his shareholding, or a reduction in the distributions which he receives by v…”
- Cited — Nectrus Ltd v UCP PLC 2021-01-21
“…ective loss was limited to cases of shareholders within the original rule as formulated by this Court in Prudential Assurance Co Ltd v Newman Industries (No 2) [1982] Ch 204. Two citations from his judgment will suffice to demonstrate this point.…”
- Cited — Nectrus Ltd v UCP PLC 2021-01-21
“… There is, however, one highly specific exception to that general rule. It was decided in the case of Prudential Assurance Co Ltd v NewmanIndustries Ltd (No 2) [1982] Ch 204 that a shareholder cannot bring a claim in respect of a diminution in the value of his shareholding, or a reduction in the distributions which he receives by v…”
- Considered — Nectrus Ltd v UCP PLC 2021-01-21
“…rule against “reflective loss” should be maintained but only to the extent recognised by the Court of Appeal in Prudential Assurance v Newman Industries (No 2) [1982] Ch 204 where the claim in question was by a shareholder, I consider that the judge in the present case was right to conclude that the rule did not preclude the claim …”
- Cited — Fakhry v Pagden & Anor 2020-09-15
“…l body of shareholders who have the economic interest in whether proceedings are brought: see, for example, Prudential Assurance v Newman Industries Ltd (No 2) [1982] Ch 204.…”