Broadcasting Investment Group Ltd v Smith

Post-Marex Court of Appeal. Asplin LJ (Coulson and Arnold LJJ agreeing): C(RTP)A 1999 s.4 preserves the promisee's own contractual rights; a concurrent s.1 third-party right in the company does not let the Prudential/Marex bar destroy those rights. The rule is a company-law bar on a claimant suing as shareholder for diminution in share value — it does not apply to an indirect shareholder on a Russian-doll theory, and it does not erase a promisee's independent contractual claim. Live English appellate authority; do not describe the post-Marex Court of Appeal position as empty.