corporate personality (see VTB Capital plc -v- Nutritek International Corp and others  EWCA Civ 808). In the BVI, following the refusal of the Supreme Court to permit the English Court to accept jurisdiction, the Claimant argued that as between the BVI and any competing jurisdiction (principally Russia), BVI was the more appropriate forum.
The Supreme Court of the United Kingdom has decided in VTB Capital plc v Nutritek International Corp and others  UKSC 5 that contractual liabilities of a corporation cannot be attributed to its controller by means of "piercing the corporate veil". In addition, the case explains the factors which determine the proper forum for cross-border ...
The Supreme Court's decision in VTB Capital plc v Nutritek International Corp and others  UKSC 5 was published on 6 February 2013. It considers the issues of piercing the corporate veil and whether the English courts were the appropriate forum for the dispute. VTB Capital, VTB Group’s investment banking business, has achieved considerable success in the 11 years since it was founded, becoming the leading international investment bank in Russia.
Feb 06, 2013 ·  UKSC 5 | UKSC 2012/0167 VTB Capital plc (Appellant) v Nutritek International Corp and others (Respondents) VTB Capital plc (Appellant) v Nutritek International Corp and others (Respondents) Judgment date. 06 Feb 2013. Neutral citation number  UKSC 5. Case ID. UKSC 2012/0167. Justices. Lord Neuberger, Lord Mance, Lord Clarke, Lord Wilson, Lord Reed. Judgment details. Judgment (PDF) Press summary (PDF) Judgment on BAILII (HTML version) VTB Capital Plc v Nutritek International Corp & Ors is one of the highest profile commercial cases of the year. The appeal concerned two issues of significance to commercial law: first, the circumstances in which fraud claims involving foreign parties but relating to frauds allegedly perpetrated in England should be heard by the English courts; and second whether a claimant who has entered ... VTB CAPITAL PLC - and - (1) NUTRITEK INTERNATIONAL CORP (2) MARSHALL CAPITAL HOLDINGS LIMITED (3) MARSHALL CAPITAL LLC (4) KONSTANTIN MALOFEEV ----- ----- Claimant Defendants Clive Freedman QC, Paul McGrath QC, Stuart Ritchie, Iain Pester and David Peters (instructed by PCB Litigation LLP) for the Claimant (VTB Capital plc v Nutritek International Corp and others  EWCA Civ 808). Lloyd also maintained that the Court had the competency and the capacity to pierce the corporate veil in case there was no other means to ensure that the company and its controllers take responsibility for their wrongdoing.