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About: Sevilleja v Marex Financial Ltd     Goto   Sponge   NotDistinct   Permalink

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Sevilleja v Marex Financial Ltd [2020] UKSC 31 is a judicial decision of the Supreme Court of the United Kingdom relating to company law and the rule against reflective loss. The issue which the court had to resolve was whether the creditors of a company could claim against a third party who had asset-stripped the company, or whether their claims were barred by the fact that the company was proper plaintiff under the rule in Foss v Harbottle and thus their claim should be barred as reflective loss. All seven judges agreed that the rule against reflective loss did not apply to creditors and that the claim could proceed.