Following an unsuccessful application to the UK Supreme Court, the appeal in the case of Aabar Holdings S.à.r.l. v. Glencore Plc is now to be heard by the Court of Appeal by 26 January 2026. The listing marks a significant step in the legal proceedings following the rejection of the Shareholder Rule by Mr Justice Picken in his judgment on 27 November 2024.
Background
As addressed in our recent client alert The end of the “Shareholder Rule”?, Mr Justice Picken’s judgment declared that the Shareholder Rule, which historically allowed shareholders to access company documents protected by privilege (except for documents arising from litigation between the shareholder and the company), “should no longer be applied”. This decision was based on the conclusion that the rule was “unjustifiable” and did not align with modern company law principles.