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Thursday, August 6, 2020 | History

2 edition of Piercing the corporate veil in Anglo-American law. found in the catalog.

Piercing the corporate veil in Anglo-American law.

Colin Douglas Perkin

Piercing the corporate veil in Anglo-American law.

by Colin Douglas Perkin

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  • 32 Currently reading

Published by University of Birmingham in Birmingham .
Written in English


Edition Notes

Thesis (Le. M.) - Univ. of Birmingham, Faculty of Law.

ID Numbers
Open LibraryOL21061103M

An elaboration of corporate law in terms of a veil. Discussing and contextualizing the legal foundation, application and validity of corporate veil piercing incidences. Discussing the appropriateness and or lack thereof, of veil piercing in modern corporate governance. Scope of the Study. corporate law when deciding whether to pierce the corporate veil. 1 The doctrine is known by various names, including "piercing the corporate veil," "disregarding the corporate entity," and the "alter ego" and "instrumentality" theories. This Note uses these terms interchangeably for the general idea of going behind the corporate form, either.

In instances of extreme owner misconduct courts will allow parties to “pierce the corporate veil”. This is because it is the exception, not the rule, when an owner is responsible for the debts of a company. The Ohio Supreme Court created a three-part test for courts to use in determining if the corporate veil of a company should be pierced. Course Outline. Introduction. The principles of limited liability and separate legal personality are long established in English law. These concepts provide huge commercial benefits for businessmen, but potential frustrations for lawyers when they are forced to explain to clients how wealthy individuals can hide behind the veil of incorporation when a business arrangement hits difficulties.

Piercing the veil is a serious matter that will require the assistance of a lawyer. Whether you’re trying to make a judgment against a company and you’re claiming they pierced the veil, or you’re facing claims of piercing your corporate veil, a lawyer will be needed.   Dear Friends, Colleagues, and Clients, In this issue of Client Alert, we will examine the concept known as “Piercing the Corporate Veil,” and how this “weapon” is used by skilled plaintiff’s lawyers to reach beyond a corporation to trap assets personally owned by the corporation’s shareholders. With the advent of the Internet and websites offering low cost incorporation services.


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Piercing the corporate veil in Anglo-American law by Colin Douglas Perkin Download PDF EPUB FB2

This book is a comparative law study exploring the piercing of the corporate veil in Latin America within the context of the Anglo-American method. The piercing of the corporate veil is a remedy applied, in exceptional circumstances, to prevent and punish an inappropriate use of the corporate cturer: Routledge.

This book is a comparative law study exploring the piercing of the corporate veil in Latin America within the context of the Anglo-American method. The piercing of the corporate veil is a remedy applied, in exceptional circumstances, to prevent and punish an inappropriate use of the corporate personality.

Effects of Piercing the Corporate Veil If a court pierces a company's corporate veil, the owners, shareholders, or members of a Piercing the corporate veil in Anglo-American law. book or LLC can be held personally liable for corporate debts.

This means creditors can go after the owners' home, bank account, investments, and other assets to satisfy the corporate debt. Piercing the corporate veil or lifting the corporate veil is a legal decision to treat the rights or duties of a corporation as the rights or liabilities of its shareholders.

Usually a corporation is treated as a separate legal person, which is solely responsible for the debts it. This book is a comparative law study exploring the piercing of the corporate veil in Latin America within the context of the Anglo-American method.

The piercing of the corporate veil is a remedy applied, in exceptional circumstances, to prevent and punish an inappropriate use of the corporate personality. Piercing the Corporate Veilprovides alphabetical summaries of the law controlling corporate veil-piercing in 50 states, federal court circuits, the District of Columbia, and U.S.

Supreme Court and Puerto Rico. It also provides historical and analytical overviews of each jurisdiction's piercing doctrine. The common law notion of piercing the corporate veil is applied to protect the interests of a company’s creditors. In many instances this proviso also aims to combat fraud, which is in the public interest.

Section of the Companies Act extends liability, while s 20 (9) codifies the doctrine of piercing the corporate veil. 1 Michigan case law applies these same principles to a limited liability company and its members.

See, e.g., Florence v Vettraino, Mich App; NW2d () (“The rules regarding piercing a corporate veil are applicable in determining whether to pierce the corporate veil of a limited-liability company”).

FIRST CLASS COMPANY LAW NOTES - Detailed revision notes on the piercing of the corporate veil - Limited Liability. Popular books. Biology - Mary Ann Clark, Jung Choi, Matthew Douglas.

College Physics - Raymond A. Serway, Chris Vuille. Courts will often pierce the corporate veil of a large corporation when the officers or directors create a subsidiary corporation and transfer debts to that subsidiary.

In one scheme, the owners of a large corporation incorporate several undercapitalized subsidiaries (companies that do not have enough money to support their operations). This concept known as piercing the corporate veil will be elabo-rated on in detail in this paper.

The doctrine is of crucial importance since it is the most litigated issue in corporate law. This concept known as piercing the corporate veil will be elabo-rated on in detail in this paper. The doctrine is of crucial importance since it is the most litigated issue in corporate law.

Regrettably, it is also among the most confusing areas of law. "'Pierc-ing' seems to happen freakishly. Like lightening, it is rare, severe, and unprincipled."Author: Michala Rudorfer. In its simplest form, the piercing of the corporate veil is an equitable remedy available to the creditors of corporate entities to request the court to hold their owners liable for the corporate.

In a landmark ruling, the Court of Appeal has held that there was no legal, factual or principle basis on which the court could pierce the corporate veil in order to make the controller of a company a party to a contract entered into by the company.

The court’s decision is in keeping with the settled principles of contract law such as the separate legal personality of a company and the. Miller, Sandra K. “Piercing the Corporate Veil among Affiliated Companies in the European Community and in the US: A Comparative Analysis of US, German and UK Veil-Piercing Approaches.” American Business Law Journal 36 (Fall ): 73 – This Note discusses the doctrine of piercing the corporate veil, primarily in the context of the parent-subsidiary relationship.

It explains the two primary arguments used to prove piercing claims, the alter ego theory and the agency theory, and examines what parent companies can do to limit their exposure to the liabilities of their subsidiaries. Piercing the corporate veil is the legal process whereby a court disregards the usual immunity given to business owners and holds them personally liable for wrongful business activities.

The term is meant to suggest that the corporate (or LLC, LLP, etc.) existence is a sham and the court should uncover the corporate disguise to reveal the. Piercing the Corporate Veil. Scenarios under which the Courts consider piercing or lifting the corporate veil are as below, 1] To Determine the Character of the Company.

There are cases where the Courts need to understand if the company is an enemy or friend. In such cases, the Courts adopt the test of control. The Courts usually avoid piercing. PIERCING THE CORPORATE VEIL: AN EMPIRICAL STUDY Robert B.

Thompson t I INTRODUCTION Piercing the corporate veil is the most litigated issue in corpo-rate law' and yet it remains among the least understood. As a gen-eral principle, corporations are recognized as legal entities separate from their shareholders, officers, and directors. “Piercing the corporate veil” is a legal doctrine that allows owners of a company to be liable for acts of the company.

“Piercing the corporate veil” is widely accepted legal concept in Minnesota. Even when a business has created a limited liability company or a corporation in an effort to decrease or eliminate personal liability [ ]. Get this from a library!

Piercing the corporate veil in Latin American jurisprudence: a comparison with the Anglo-American method. [José Maria Lezcano Navarro] -- This book is a comparative law study exploring the piercing of the corporate veil in Latin America within the context of the Anglo-American method.

The piercing of the corporate veil is a remedy.Piercing the corporate veil is when the courts ignore the "corporate veil" placed on an LLC or corporation. A corporate veil is when a business is incorporated so that its owners, shareholders, and employees will not be held personally responsible if the business can't pay its debts.

A corporate veil is also known as limited liability. Piercing the corporate veil has been called an “extraordinary” remedy, and it is only available under special circumstances.

To pierce the veil, a plaintiff must show: The corporation was not operated legitimately, but was operated and controlled for the purposes of some dominant party, The corporation was used for an improper purpose, and.