VTB Capital plc v Nutritek International Corp [2013] UKSC 5

Court: Supreme Court

Facts: VTB sought to pierce the corporate veil to add a controller as a party to a loan contract with RAP. Both the High Court and Court of Appeal rejected this amendment.

Issue: Can the corporate veil be pierced to add a controller as a party to a contract entered into by the company?

Held: Appeal dismissed. The Supreme Court ruled that the corporate veil could not be pierced to add the controller to the contract proceedings.

Key Judicial Statement: The court noted, "The corporate veil cannot be lifted to add a person as a party to a contract entered into by the company."

💡 Leveluplaw: Piercing the corporate veil does not extend to adding a person to a contract that the company has entered into.