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Supreme Court refuses to pierce the corporate veil


In the much-anticipated decision in the case of VTB Capital plc v Nutritek International Corp on 6 February 2013, the Supreme Court refused to pierce the corporate veil in order to hold a non-contracting controlling party liable to its company's contractual obligations.

The Supreme Court, by a majority, also upheld the lower courts' decisions that England was not the most appropriate forum to resolve VTB's claims in tort and therefore set aside the order permitting service out of the jurisdiction and discharged a worldwide freezing order.

Allen & Overy provides an analysis of the case's background, Lord Neuberger's judgment and why decision is significant.

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