Abstract
A majority decision by the Court of Appeal in Petrodel Resources Ltd and others v Prest [2012] EWCA Civ 1395 has confirmed the narrow scope of the court’s jurisdiction to ‘pierce the corporate veil’, and, to the consternation of family practitioners, ruled that there is no justification for doing so merely to achieve ‘fairness’ in ancillary relief proceedings. On one view, the ruling has reasserted orthodoxy and confirms that the general law applies to husbands and wives the same as anyone else. To its critics, it has provided a ‘cheat’s charter’, which will allow wealthy husbands to ‘hide’ their assets in complex corporate structures (The Times, London, 15 November 2012).
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