Dr Ioannis Glinavos, Course Leader of the Corporate Finance Law LLM and Senior Lecturer on the International Commercial Law LLM course, has written an article for The Conversation about the legal consequences of Labour’s nationalisation plans.
With the release of their manifesto, Labour announced promises to bring rail, mail, water and energy into public ownership to secure control over nationally strategic infrastructure and provide collective control for key natural resources.
Dr Glinavos said about the plans’ legal consequences: “It is not clear at this stage how a future Corbyn-led government would acquire all these assets. The manifesto gives the impression that the consent of current owners and investors will not be required. What is clear, however, is that if investors in these private companies suffer losses from this, they are likely to perceive it as an expropriation of their property rights. As a result, they will be on the phone to their lawyers to enquire about legal protections.”