header-logo header-logo

Home Login E-newsletter About us
17 October 2025
Issue: 8135 / Categories: Legal News , Company , Dispute resolution , Privilege , Disclosure
printer mail-detail

NLJ this week: Privy Council undresses the ‘shareholder rule’

© Copyright LexisNexis 2026. All Rights Reserved.
232364
Writing in NLJ this week, James Harrison and Jenna Coad of Penningtons Manches Cooper chart the Privy Council’s demolition of the long-standing ‘shareholder rule’ in Jardine Strategic v Oasis Investments

Once likened to the emperor’s imaginary clothes, the rule—that companies cannot claim privilege against shareholders—was found baseless. Rejecting outdated trust analogies and joint-interest arguments, the court affirmed that companies and shareholders are distinct legal persons.

The decision secures confidentiality for boards and in-house lawyers but may prompt shareholder counsel to seek new contractual rights to information, reshaping corporate disclosure battles ahead.

Issue: 8135 / Categories: Legal News , Company , Dispute resolution , Privilege , Disclosure
printer mail-details
RELATED ARTICLES
 

MOVERS & SHAKERS

Read All
Jurit LLP—Caroline Williams

Jurit LLP—Caroline Williams

Private wealth and tax team welcomes cross-border specialist as consultant

Freeths—Michelle Kirkland Elias

Freeths—Michelle Kirkland Elias

International hospitality and leisure specialist joins corporate team as partner

Flint Bishop—Deborah Niven

Flint Bishop—Deborah Niven

Firm appoints head of intellectual property to drive northern growth

NEWS
Read All
NLJ this week: No such thing as a ‘Welsh seat’
Talk of a reserved ‘Welsh seat’ on the Supreme Court is misplaced. In NLJ this week, Professor Graham Zellick KC explains that the Constitutional Reform Act treats ‘England and Wales’ as one jurisdiction, with no statutory Welsh slot
NLJ this week: Jury reform risks justice for efficiency’s sake
The government’s plan to curb jury trials has sparked ‘jury furore’. Writing in NLJ this week, David Locke, partner at Hill Dickinson, says the rationale is ‘grossly inadequate’
NLJ this week: Crypto fightback offers ‘new frontier for law’
A year after the $1.5bn Bybit heist, crypto fraud is booming—but so is recovery. Writing in NLJ this week, Neil Holloway, founder and CEO of M2 Recovery, warns that scams hit at least $14bn in 2025, fuelled by ‘pig butchering’ cons and AI deepfakes
NLJ this week: Time to revive the duty to report crime?
After Woodcock confirmed no general duty to warn, debate turns to the criminal law. Writing in NLJ this week, Charles Davey of The Barrister Group urges revival of misprision or a modern equivalent
NLJ this week: When are experts truly ‘necessary’?
Family courts are tightening control of expert evidence. Writing in NLJ this week, Dr Chris Pamplin says there is ‘no automatic right’ to call experts; attendance must be ‘necessary in the interests of justice’ under FPR Pt 25
Copyright © 2026 LexisNexis
back-to-top-scroll