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In THG plc v Zedra Trust Company (Jersey) Limited [2026] UKSC 6, the UK Supreme Court held that there was no statutory limitation period applicable to unfair prejudice petitions under English companies legislation.
The Supreme Court held, by majority (4:1), that a claim under section 994 of the Companies Act 2006 (an unfair prejudice claim) is neither an ‘action upon a specialty’ under section 8 of the Limitation Act 1980 (the 1980 Act) nor, as regards any claim for monetary relief, an ‘action to recover any sum recoverable by virtue of any enactment’ under section 9 of the 1980 Act. Therefore, no limitation period applies to claims under section 994.
The Court confirmed that it retains a discretion to refuse relief in respect of stale claims on the grounds of delay.
The Isle of Man Courts may well follow the decision in THG v Zedra as although our legislation is not identical to the English statutory provisions, the fundamental concepts of unfair prejudice claims and limitation periods are largely the same. A notable difference is that our limitation period for actions upon a specialty is 21 years, not 12 years as in England.
For more information on how Maher Law’s specialist dispute resolution team can assist in relation to Isle of Man shareholder disputes and other Chancery litigation, please contact Tom Maher at tom@maher.im
28 August 2026
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