Prest v Petrodel Resources Ltd and others [2013] UKSC 34, [2013] All ER (D) 90 (Jun)
Supreme Court, Lord Neuberger P, Lord Walker, Lady Hale, Lord Mance, Lord Clarke, Lord Wilson and Lord Sumption SCJJ, 12 Jun 2013
It is well established that the court might be justified in piercing the corporate veil if a company’s separate legal personality is being abused for the purpose of some relevant wrongdoing; however, s 24 of the Matrimonial Causes Act 1973 does not provide any wider jurisdiction to do so than the general law. It might however be possible in matrimonial proceedings to find that companies hold their properties on trust for a spouse, in particular circumstances.
Richard Todd QC, Daniel Lightman and Stephen Trowell (instructed by Farrer & Co) for the wife. Tim Amos QC, Oliver Wise, Ben Shaw and Amy Kisser (instructed by Jeffrey Green Russell Ltd) for the companies.
The appeal arose out of proceedings for ancillary relief following a divorce, in respect of which a decree absolute
