Prest v Petrodel Resources Ltd (2013) tackled piercing the corporate veil, ruling that properties held by Petrodel companies were beneficially owned by Mr. Prest, thus subject to divorce settlement. The case clarified asset ownership and enforcement against companies in matrimonial finance disputes.
Piercing the Corporate Veil: The Supreme Court clarified the conditions under which the corporate veil can be pierced, emphasising that it is permissible only to prevent evasion of legal obligations, not to reallocate assets for convenience in divorce cases.
