Is the “Evasion Principle” for Veil Piercing too unclear? Are we witnessing the downfall of the doctrine in light of Prest v

Abstract

In the corporate world of today, the phrase "lifting of the corporate veil" or 'disregarding of the corporate personality' is frequently used. The separate legal personalities of a company and its shareholders have frequently been asked to be disregarded by English courts. However, the UK courts hardly ever respond to this matter. The courts frequently state that they are reluctant to remove the corporate veil. In almost all situations, they attempt to preserve the corporate legal entity, even if doing so would require lifting the corporate veil and ensuring justice. This dissertation takes an effort to explain the hesitant attitude of the UK courts. In this context, references to a few cases have been made in order to understand the anatomy of the unwilling approach.

Keywords: Corporate Veil, Veil Piercing, Evasion Principle, Separate Legal Personality, Prest v Petrodel, UK Company Law, Corporate Legal Entity, Judicial Reluctance, Shareholder Liability