In this article, Andrew Bowen QC looks at the case of Marex Financial Ltd v Sevilleja [2018] 2 B.C.L.C. 601, which considered the novel question of whether the reflective loss principle applied to claims by unsecured creditors who were not shareholders. Marex emphasised the strict nature of the principle and the limited scope of the exception.

This article was first published in Greens Business Law Bulletin, Issue 160 (June 2019) and on Westlaw. It is reproduced here with the kind permission of Thomson Reuters.