High Court finds defendant bank did not dishonestly assist company restructure to put assets beyond reach of creditors

The High Court has rejected an allegation of dishonest assistance against a bank, in circumstances where the claimants argued that the restructuring of the bank’s customer was a scheme to defraud its creditors and avoid the customer paying its liabilities. The court held that the customer’s directors had not breached their duties to the company, … Read more

High Court confirms refusal of permission for ClientEarth derivative action against Shell directors

In the closely-watched proceedings brought by climate-change activist ClientEarth against Shell plc, the High Court yesterday confirmed its earlier decision to refuse ClientEarth permission to continue its derivative action: ClientEarth v Shell plc [2023] EWHC 1897 (Ch). ClientEarth, a minority shareholder in Shell, is seeking to bring a derivative claim in Shell’s name, to challenge the … Read more

High Court refuses permission for climate-change activist shareholder to bring derivative action on behalf of Shell plc against its directors

In a significant decision for boards seeking to grapple with how to respond to the impact of climate change on their company’s business, the High Court has refused permission for ClientEarth, a minority shareholder in Shell plc, to continue a derivative action on behalf of the company against its directors (the Directors) under s.261(1) of … Read more