Wills & Trusts Law Reports | September 2013 #132Michael Prest (husband) and Yasmin Prest (wife) were married for 15 years and had four children before the wife petitioned for divorce in March 2008. During the marriage the matrimonial home was in England, though for most of the time the husband was found to be resident in Monaco and there was also a second home in Nevis. Petrodel Resources Ltd (PRL), which was incorporated in the Isle of Man, was the legal owner of the matrimonial home and five other residential properties in the United Kingdom. PRL was part of a group of companies, one of which was the legal owner of two more resident...
Clare Arthurs and Alex Fox reflect on the Supreme Court judgment in Nutritek The Supreme Court clearly declined to extend the circumstances in which the corporate veil may be pierced. The corporate veil has been in the limelight of late. The Court of Appeal in VTB Capital v Nutritek International Corp [2012] kept it drawn …
Continue reading "Company: Dance of the corporate veil"
This post is only available to members.
Clare Arthurs assesses a recent challenge to corporate protection VTB’s original case was pleaded in deceit and unlawful means conspiracy. The judge overturned the permission VTB had obtained (ex parte) to serve proceedings out of the jurisdiction. The expression ‘Piercing the corporate veil’ is a neat turn of phrase, but what does it actually mean? …
Continue reading "Commercial: To pierce or not to pierce? The Court of Appeal protects the corporate veil"
This post is only available to members.
