A British parcel entrepreneur forged documents as part of a failed attempt to seize control of Yodel, according to a damning High Court judgment that brings fresh clarity to one of the most chaotic corporate battles in the UK logistics sector.
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. InPost is now considering further legal action in light of the court’s findings.
The ruling addresses only one strand of a wider legal saga. Mr Corlett is also accused of siphoning off millions of pounds from Yodel during a brief period of ownership last year, allegations he strongly denies. Those claims, including accusations of asset stripping and the diversion of funds to companies linked to him and his mother, are due to be examined in a separate High Court trial next year.
Yodel, which employs around 10,000 people, was previously owned by the Barclay family and was sold for £1 to Mr Corlett in 2024 in a last-ditch effort to avoid insolvency. At the time, the 31-year-old entrepreneur was portrayed as a white knight who would stabilise the Liverpool-based parcel firm and merge it with his start-up, Shift Group.
However, relations quickly deteriorated after Yodel’s lenders and advisers alleged that company funds had been misappropriated, including payments totalling more than £4m made to businesses linked to Mr Corlett. Court filings also allege that funds were routed offshore to an Isle of Man company owned by his mother.
Mr Corlett has denied any wrongdoing and says he was unaware of the payments. A spokesperson for him said he was disappointed by the outcome of the ruling and that his legal team is reviewing the judgment as he considers next steps.
For Yodel and InPost, the decision removes a major cloud hanging over the business and clears the way for the Polish group to press ahead with its plans for the UK delivery firm, following a period of turmoil that threatened its very survival.
Read more:
Entrepreneur forged documents in failed bid to seize control of Yodel, High Court rules
