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The former owner of Yodel probably forged his mother’s signature in an attempt to seize back control of the parcel delivery company, according to an “extraordinary” ruling issued on Friday by a high court judge.
Jacob Corlett, a 31-year-old logistics entrepreneur, launched a takeover of Yodel in January 2024, buying the financially distressed company for £1 as part of a plan to merge it with his own parcels company, Shift.
Within six months, Yodel was unable to pay its debts to HM Revenue and Customs and commercial partners, forcing Corlett to sell the business – also for £1 – to another company called Judge Logistics Ltd (JLL) in June 2024.
Earlier this year, the Polish parcel locker company InPost bought JLL in a £106m deal.
After a suit brought against him by Yodel, including for breach of fiduciary duty during his time as a director, Corlett launched an unsuccessful counterclaim intended to regain control of Yodel.
The claim alleged that, at the time Yodel was sold to JLL, Corlett owned warrants granting companies owned by him a majority stake in the business.
Yodel disputed the authenticity of the documents in court, producing forensic handwriting analysis that cast doubt on the veracity of witness signatures that Corlett said had been provided by his mother, Tamara Gregory.
The documents, supposedly signed during a breakfast meeting at Corlett’s Liverpool flat, two days before JLL’s takeover, were written using three different pens, according to the evidence.
The judge, Mr Justice Fancourt, concluded that Corlett probably forged his mother’s initials after he had lost control of the company, to make it look as if she had witnessed the warrant document that Corlett claimed gave him control of it.
In court, Gregory claimed that she had signed the documents herself but had written a “scrappy” signature, using initials rather than a longer version, because she was pushed for time and was angry and upset.
Fancourt ruled: “The conclusion to be drawn from this evidence is reinforced by the evidence of the handwriting expert witnesses, which was to the effect that the signatures on the documents in dispute were suspicious, showed many signs of forgery, and probably were forged.”
He said Gregory’s evidence was “an attempt by a loving mother to help her son, who was in a very difficult position of his own making”.
He also found that Corlett had “not given a moment’s thought” to how trade creditors, landlords and HMRC would have their debts repaid and that his attempt to take control of the company would have prevented it from receiving rescue funding.
“Mr Corlett advanced in cross-examination a number of discreditable explanations of these exchanges, which were untrue and, characteristically, moulded to try somehow to fit the indisputable facts,” he added.
Michael Rouse, the chief executive of InPost, which now owns Yodel, said: “This is an extraordinary judgment that demonstrates the lengths Corlett was prepared to go in order to extract money from Yodel.
“This judgment is a total vindication of our position and protects the integrity of our share capital. It ensures that our current shareholders, partners, and the thousands of people who work for Yodel can continue to focus on delivering for our customers without the distraction of these meritless and dishonest claims.
“Following these findings of forgery, Yodel is considering further legal action. We will continue to pursue our existing claims for breach of duty and misappropriation of funds against those involved to ensure the company and its creditors are fully protected.”
The Guardian has approached Shift, where Corlett is the chief executive and founder, for comment.
