Looking behind the corporate veil
The Supreme Court in VTB Capital v Nutritek has addressed the question of how far it is possible to look behind the separate legal personality of a company to impose liability upon those controlling it — also known as ‘piercing the corporate veil’. In a significant judgment, the court has rejected the suggestion that the corporate veil should be pierced to impose liability on those controlling the company as if they had been a contracting party alongside the ‘puppet’ company.
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