Consider The Circumstances Under Which The Corporate Veil Can Be Lifted And Analyse How Effective The Law Is In Piercing The Veil When Necessary Essays and Term Papers

  • English Case Law on Piercing the Corporate Veil

    Piercing the corporate veil is a term that is commonly used in corporate law to refer to cases in which the limited liability of the Corporation becomes unlimited to be able to impose certain responsibilities either to the particular Corporation or to the shareholders of a corporation. The idea of piercing...

    1328 Words | 4 Pages

  • Piercing the Corporate Veil

    meetings. While serving as both President and Chairman of the Board, Mallory ordered the corporate treasurer to cover his mortgage payments of $20,000 per month using Techno-Corp funds. Subsequently, when Techno-Corp began to have financial trouble Mallory borrowed a $1 million unsecured loan in the...

    400 Words | 2 Pages

  • Piercing the Corporate Veil

    Paula Keene. I will explain why it is important to uphold West Virginia Statute 31d-6-622 to maintain the corporate veil and to show that Ms. Keene is not personally responsible for corporate debts accrued by Main Event. My co-counsel will explain why punitive damages should not be awarded against...

    1516 Words | 6 Pages

  • Case of Piercing The Corporate Veil

    Case of Piercing The Corporate Veil PT Peresseia Mazekadwisapta Abadi (Primaz) Background PT Peresseia Mazekadwisapta Abadi (Primaz) located at Jalan Jenderal Suprapto Komplek Ruko Grosir Cempaka Mas Blok F 14, Jakarta Pusat is a company engaged in trading Gold Bars (Precious Metals), which buys and...

    2229 Words | 9 Pages

  • Piercing the Corporate Veil

    One of the most uncertain areas in company law today is the situation in which a court is willing to set aside the separate legal personality of a company. Separate legal personality i.e. where a company is regarded by the courts as a legal person with its own rights and responsibilities and that it...

    2817 Words | 8 Pages

  • Piercing the Corporate Veil in Australia

    Piercing the Corporate Veil in Australia Ian M Ramsay Harold Ford Professor of Commercial Law and Director, Centre for Corporate Law and Securities Regulation The University of Melbourne David B Noakes Solicitor, Allen Allen & Hemsley, Sydney, and Research Associate, Centre for Corporate Law and Securities...

    15226 Words | 50 Pages

  • The Rule Of Piercing The Corporate Veil

    The rule of piercing the Corporate Veil and what is its implement actuality under China company law ? Introduction In regardless of the jurisdictions, it is generally accepted that shareholders among a corporation are not liable for the obligations of the corporation in the circumstance where exceed...

    3719 Words | 11 Pages

  • Doctrine of Piercing the Veil of Corporate Entity

    Doctrine of Piercing the Veil of Corporate Entity Requires the court to see through the protective shroud which exempts its stockholders from liabilities that they ordinarily would be subject to, or distinguishes a corporation from a seemingly separate one, were it not for the existing corporate fiction...

    452 Words | 2 Pages

  • Texas Law on Piercing the Corpertate Veil

    The Law in Texas Regarding Piercing the Corporate Veil Section 1. An Overview of the “Corporate Veil” The Texas corporation, like the corporation in every other state, is a creature of statute and is legally separate and distinct from its officers, directors and shareholders. The general rule...

    3611 Words | 14 Pages

  • Corporate Veil

    Question 10 What is a corporate veil? Under what circumstances a corporate veil shall be lifted? Corporate veil is a legal concept that separates the personality of a corporation from the personalities of its shareholders, and protects them from being personally liable for the company's debts and other...

    607 Words | 2 Pages

  • corporate veil

    arises from the concepts of separate legal person and limited liability which are embodied in the doctrine of corporate veil under company law. However, some businessmen, law scholars and the public at large argue that corporate veil is nothing but a fallacy meant to dupe business people into a false sense...

    2460 Words | 4 Pages

  • Corporate Veil

    Corporate veil Introduction With the contemporary appreciation of the separate entity principle in courts, it has become increasingly difficult to predict the outcome of cases with precision as in the case of Salomon v. Salomon & Co Ltd (1897). Separate corporate personality has been firmly...

    2014 Words | 7 Pages

  • Corporate Veil

    Corporation veil is A legal concept that separates the personality of a corporation from the personalities of its shareholders, and protects them from being personally liable for the company's debts and other obligations. This protection is not ironclad or impenetrable. Where a court determines that...

    258 Words | 1 Pages

  • Corporate Veil

    Capital LLC (“Marcap Moscow”), a Russian company which has not been served. 2 The present case arises from a Facility Agreement dated 23 November 2007 (“the Facility Agreement”) entered into between VTB and a Russian company, Russagroprom LLC (“RAP”), under which VTB advanced some US$225,050,000 to RAP. The...

    41345 Words | 95 Pages

  • Corporate Veil

    assignment is about corporate personality. First of all, we need to clarify the meaning and characteristics of company. In short, company means a body of persons combined for a common object. A company exist there must be a group of persons that more than 1 persons. In eyes of law, a company is a separate...

    880 Words | 3 Pages

  • Piercing the Veil in Taxation Matters

    Piercing the veil is one of the most discussed and litigated doctrines in all of corporate law. A company has a corporate personality distinct from its members. From the juristic point of view, it is a legal person distinct from its members. This is the principal laid down in Salomon v. Salomon &...

    7796 Words | 19 Pages

  • Piercing the corporate veil since the enactment of the New Companies Act.

    Piercing the corporate veil since the enactment of the New Companies Act.1 A company, as a separate entity, is an acknowledged concept in South African law. It is clearly stated in the Constitution: A provision of the Bill of Rights binds a natural or a juristic person if, and to the extent that...

    1301 Words | 3 Pages

  • Lifting of Corporate Veil

    “LIFTING THE CORPORATE VEIL”- AN OVERVIEW Definition-Lifting or Piercing the Corporate Veil Lifting or Piercing the Corporate Veil is a Legal process or proceedings taken to uncover the common shield in respect of any suspicious event happened or to be happened or on the basis of allegation made or...

    1834 Words | 5 Pages

  • lifting the corporate veil

    “LIFTING THE CORPORATE VEIL” The recognition that a company is a separate legal entity distinct from its shareholders is often expressed as the “veil of incorporation”. General principle, once a company is incorporated, the courts usually do not look behind the veil to inquire why the company was...

    511 Words | 2 Pages

  • Raising of the Corporate Veil - ENRON

    and agency costs, as the interests of the owners and the managers were often divergent. In this section, we discuss these concepts as they apply to corporates. 1.1 Separate Legal Entity The word "corporation" derives from the Latin corpus (body), representing a "body of people", i.e.: a group of people...

    7535 Words | 29 Pages