"Mr Justice Fancourt ruled that Jacob Corlett conspired with his mother, Tamara Gregory, to falsify share warrant documents in an effort to overturn Yodel's sale to Polish courier group InPost. The judge said the signatures on the disputed documents were "suspicious", bore "many signs of forgery" and were "probably forged", based on expert handwriting evidence. In a strongly worded ruling published on Friday, the judge concluded that both Mr Corlett and his mother had lied to the court about how the documents were produced."
"He described Mr Corlett as "a most unsatisfactory witness" and said the evidence pointed decisively to fabrication. The judgment is a significant victory for InPost, which agreed a £106m deal to acquire Yodel earlier this year, following months of uncertainty over the company's ownership and financial stability. Mr Corlett had sought to derail the takeover by claiming he held warrant instruments entitling him to purchase more than 60 per cent of Yodel's shares, effectively restoring him as majority owner."
"The High Court rejected that argument, ruling the warrants invalid because they were forged. As a result, Mr Corlett's attempt to reclaim control of the business has collapsed. Michael Rouse, chief executive of InPost International, said the ruling was an "extraordinary judgment" that fully vindicated InPost's position. He accused Mr Corlett of going to extreme lengths to extract money from Yodel and said the decision protected the integrity of the company and its shareholders."
Jacob Corlett and his mother, Tamara Gregory, conspired to falsify share warrant documents in an attempt to overturn Yodel's sale to InPost. Expert handwriting evidence led the High Court to conclude signatures on the disputed documents were suspicious, bore many signs of forgery and were probably forged. The judge found both defendants lied about how the documents were produced and described Corlett as a most unsatisfactory witness, concluding the evidence pointed to fabrication. The court ruled the warrants invalid, collapsing Corlett's bid to reclaim majority control and vindicating InPost's £106m acquisition of Yodel.
Read at Business Matters
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