“…the claim on the basis that it was barred by the “reflective loss” principle considered by the Supreme Court in Marex Financial Ltd v Sevilleja [2020] UKSC 31, [2021] AC 39 (“Marex”). There is also an issue as to the implications of a settlement agreement (“the Settlement Agreement”) concluded on 22 December 2020 between the secon…”
“…Following the PTA decision, the Supreme Court’s decision in Marex v. Sevilleja [2020] UKSC 31, [2021] AC 39 (Marex SC) was handed down on 15 July 2020, reversing Marex CA. On 17 July 2020, Nectrus’ solicitors wrote to the Civil Appeals Office (the 17 July letter) say…”
“…[2020] UKSA 31; [2021] AC 39. The judge noted that Mr Percy had been a creditor-shareholder on the basis of which the rule against reflective loss does not apply.…”