Jacob Corlett and his mother forged share warrants in a bid to claim control of delivery firm Yodel, London’s High Court has ruled, upholding InPost UK’s ownership and dismissing attempts to halt the company’s transformation plan amid ongoing legal disputes over assets and shares.
The High Court dismissed an application by companies linked to entrepreneur Jacob Corlett on 11 June 2025 to block Yodel Delivery Network Ltd’s business overhaul under InPost UK Ltd ownership, a decision upheld by the Court of Appeal on 15 August 2025 in a protracted fight for control of the UK parcel delivery giant.
Court Rejects Injunction in Yodel Control Dispute
Shift Global Holdings and Corja Holdings Limited, entities associated with Jacob Corlett, sought an interim injunction to prevent Yodel from implementing a transformation plan pursued by its current owner, InPost UK Ltd, according to the Court of Appeal judgment in Yodel Delivery Network Ltd v Corlett EWCA Civ 1108 reported by Erskine Chambers. The High Court refused the injunction on 11 June 2025, with the Court of Appeal dismissing the appeal following a hearing on 31 July 2025, stating the judge was “not only entitled, but correct, to decline to grant an injunction”. Macfarlanes reported that Shift and Corja claimed entitlements under alleged warrant instruments issued prior to Yodel’s sale to Judge Logistics Ltd (JLL), which would make them majority shareholders if successful in their counterclaim for specific performance.
As reported by Erskine Chambers, the applicants aimed to preserve the value in their counterclaim requiring Yodel to issue new shares giving them control, but the Court of Appeal found the balance of convenience favoured Yodel, noting the transformation plan’s potential to improve fortunes and risks of customer loss if halted before the Christmas peak.
Background to Yodel’s Turbulent Ownership History
Yodel faced financial distress leading to a rescue deal involving Jacob Corlett’s Shift Global Holdings in 2023, which unravelled months later, sparking lawsuits alleging asset-stripping, according to Insurance Journal. Yodel sued Shift and Corlett in London’s High Court, claiming he “systematically stripped its assets and misappropriated its money,” including £1.5 million paid to a Shift subsidiary for no consideration and £2.67 million in commission on uncompetitive terms, seeking at least £4.6 million in damages. The High Court approved judgment in Yodel Delivery v Corlett detailed how Corlett, through YDLGP, briefly controlled Yodel before selling all shares to JLL for £1 on 21 June 2024 under pressure from investor IGF, which threatened administration.
Allegations of Forged Share Warrants Surface
The Telegraph, as summarized by Longbridge, reported that Jacob Corlett and his mother were found to have forged documents, with the High Court ruling the share warrants falsified, undermining claims to ownership and supporting InPost’s acquisition. A High Court judgment noted no warrants or certificates were provided by Corlett until 5 September 2024, when he uploaded a PDF of the Second Warrant Instrument, amid InPost’s investment starting in August 2024. Poland Unpacked stated a UK court resolved the dispute, confirming InPost as owner and finding Corlett falsified documents to block the takeover. Corlett denies the accusations, with further legal actions under consideration, per Longbridge’s summary of The Telegraph.
Failed Share Exercise and Leadership Tensions
Shift and Corja sought to exercise alleged subscription entitlements in January 2025, but Yodel refused, leading to the counterclaim, as outlined by Macfarlanes. Corlett alleged in court filings that PayPoint CEO Nick Wiles and Yodel CEO Mike Hancox forced him out in June 2024, pressuring a £1 sale to Hancox’s JLL and promising a 10% stake and consultancy payments that never materialised, according to Insurance Journal. Corlett claimed, “Instead of honoring those obligations, Yodel’s CEO made vindictive, baseless allegations with no supporting evidence in a transparent attempt to pressure me into abandoning my legal rights, which will not succeed.” Wiles declined to comment, while earlier Corlett had said, “A new direction is clearly required at Yodel.”
InPost offered to guarantee any damages against Yodel, addressing concerns over recovery, and the Court of Appeal noted the injunction would subordinate Yodel’s directors to Shift and Corja, straying beyond preserving the status quo. ICLG reported the Court of Appeal dismissal cleared the path for Yodel’s turnaround despite the shareholder dispute.
The Court of Appeal’s 15 August 2025 ruling dismissed Corlett-linked entities’ appeal, enabling Yodel’s transformation under InPost UK Ltd to proceed, with the High Court’s findings of forged documents bolstering current ownership and ongoing claims for asset recovery reported across multiple outlets.
