September 2, 2025
Bilta (UK) Ltd v Tradition Financial Services Ltd [2025] UKSC 18 (07 May 2025)
Liquidators of Bilta, a company used for VAT fraud by its directors, sued those directors. The directors argued their fraud should be attributed to the company, barring the claim. The court held that fraud cannot be attributed to a company when the claim is against the wrongdoing directors themselves. Facts Bilta (UK) Ltd was a company used by its sole director, Mr Nazir, and other individuals and companies to carry out a carousel fraud scheme involving the trade of European Emissions Trading Scheme Allowances (carbon credits). The scheme was designed to defraud HM Revenue and Customs (HMRC) by generating a
