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05 July 2024 / Georgina Squire
Issue: 8078 / Categories: Features , Procedure & practice , Limitation , Company
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Time’s up! Shareholders, unfair prejudice & Zedra

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Georgina Squire examines time limitations imposed by the Court of Appeal on unfair prejudice petitions
  • Provides a detailed look at the case of THG v Zedra, which overturned decades of accepted authority on limitation regarding s 994 unfair prejudice claims.

Until recently, it was assumed the Limitation Act 1980 does not apply to claims for relief from unfair prejudice under s 994 of the Companies Act 2006. In a perhaps surprising decision in February 2024, however, in THG Plc and others v Zedra Trust Company (Jersey) Ltd [2024] EWCA Civ 158, [2024] All ER (D) 169 (Feb), the Court of Appeal held that such claims are in fact subject to the1980 Act, and the length of the limitation period will depend on the relief sought. What was it that led their Lords Justice Lewison, Arnold and Snowden to overturn 40 years of ‘received wisdom’?

Background

On 7 January 2019 a petition under s 994 was presented in the High Court by Zedra Trust Company (Jersey) Ltd

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