Prest if Petrodel Resources and VTB Capital v Nutritek: a Robust Corporate Veil

摘要

This article discusses the UK Supreme Court's decisions in Prest and VTB Capital and in particular the circumstances in which the corporate veil might be pierced. Following these decisions, it is arguable that the bar for situations in which the corporate veil might be pierced has been set even higher. The decision in Prest is likely to be welcomed by practitioners outside the family law arena as a return to certainty, the Supreme Court having twice now made it clear that extending the circumstances in which the corporate veil might be pierced would cut across established principles of company and insolvency law, both essential for protecting those dealing with companies.