How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask leanne-jones Your Own Question
leanne-jones
leanne-jones, Barrister
Category: Law
Satisfied Customers: 183
Experience:  Barrister
73696840
Type Your Law Question Here...
leanne-jones is online now

I have found information, which shows that the directors of

Customer Question

I have found information, which shows that the directors of a company, which went into liquidation owing my now liquidated company £330k, made substantial preferential payments to themselves, without invoices, immediately prior to their demise in 2009.
Has the law recently changed, so that I can sue them personally.
Submitted: 4 years ago.
Category: Law
Expert:  leanne-jones replied 4 years ago.
Hello - my name is Leanne and it will be my pleasure to assist you today.

The recent case of Caterpillar Financial Services (UK) Limited v Saenz Corp Limited, Mr Karavias, Egerton Corp & Others ([2012] EWHC 2888 (Comm), 5 September 2012, Mr Justice Eder) is one of the exceptional cases in which the court exercised its discretion to pierce the veil.

HFW acted for Caterpillar Financial Services in a successful application for summary judgment in respect of a declaration that a company was an alter ego corporate vehicle of the defendant. This allowed a judgment obtained against the defendant to be enforced against certain of the company’s assets. This decision highlights that although very rare the courts will exercise their jurisdiction to pierce the corporate veil.

So when you say recently, it depends on how recent you mean. For more information please see:

http://www.allaboutshipping.co.uk/2012/12/10/the-corporate-veil-when-will-it-be-pierced/

I hope this helps and if I can be of any further assistance please do not hesitate to contact me.