© Copyright 2012, vLex. All Rights Reserved.
- Language
Contents in vLex United States
Explore vLex
For Professionals
For Partners
Company
piercing the veil
8 similar searches for piercing the veil
1.782 documents for piercing the veil
-
In a stressed economy, creditors facing challenges collecting bad debts often want to reach into the deeper pockets of their customers' shareholders and owners. Collecting from people involved in limited liability companies can be frustrating because these entities limit the amount the owners and investors can lose; if the company hits hard times, the law protects these individuals from being held personally liable for their organization's debts and obligations. It essentially places a veil of protection over them. "Piercing the veil" is a metaphor for the judicial doctrine that permits a plaintiff to hold otherwise immune corporate shareholders personally liable for the debts owed by that corporation. The goal isn't to undermine protection from liability; piercing the veil requires tha...
-
Veil piercing doctrines have been the subject of much scholarly attention in recent years. They have generated diametrically opposing views, with some legal commentators advocating the complete abolition of the doctrines and others advocating a significant relaxation of the standards for piercing the corporate veil. Those who advocate abolition of these doctrines argue that limited liability for corporations has significant economic benefits. In contrast, those who seek to relax the requirements for piercing the corporate veil argue that limited liability improperly shifts costs onto innocent creditors. As a result, management may undertake business activities that are harmful to society because they are able to externalize the risk of such projects, resulting in a moral hazard problem....
-
Or maybe we're participating in the demise of Hollywood storytelling, which tends to drop everything in our laps, like a cute little puppy Either way, you can take the [Michael Haneke] plunge by attending a retrospective of his work that's under way at the UW Cinematheque. "Michael Haneke: A Cinema of Provocation," which continues through March 9 at 4070 UW Vilas Hall, contains work Haneke's done in both film and television, and you don't have to watch very much of it to realize that he's a master at what he does. Some of you will have seen Caché, where Daniel Auteuil and 'Juliette Binoche tried to track down whoever was sending them videotapes of the outside of their home. Or maybe you saw The Piano Teacher, where Isabelle Huppert completely plumbed the depths of a demanding woman's sa...
-
Civil EPA Penalty; piercing the corporate veil
-
Over the past several years, accountants have managed to ride out the storm of massive corporate accounting scandals, the demise of one of the premier accounting firms in the country, a tarnished perception of the profession, and the resulting impact of the landmark passage of Sarbanes-Oxley (SOX). Despite early hopes and predictions that this legislation would stop future scandals and restore investor confidence, the jury is still out on whether this landmark legislation truly affords investors the protections it was intended to provide. This article provides a look at the pleading requirements and realistic opportunity, or lack thereof, of piercing the corporate veil under traditional pre-SOX litigation rules. It then examines the impact, if any, that SOX has had on litigants' opportu...
-
This article will outline the circumstances in which Australian courts will pierce the corporate veil. It will also discuss "shadow directors" and analyze three cases highlighting the importance of a parent ensuring that subsidiaries make independent decisions. The expression "lifting or piercing the corporate veil" refers to a court looking behind the separate legal personality of a company. In effect, the court will look behind the corporate entity to assign a corporate right, privilege, duty or liability to a member of the company where a strict application of the separate legal personality doctrine would vest the liabilities or rights solely in the company. The corporate veil may be lifted where there has been a fraud or other breach of the law. The fraud and sham argument refers to...
-
Introduction II. Four Novel Threats To Limited Liability III. The First Circuit's Single Business Enterprise Theory Is Unique A. Traditional Veil-Piercing 1. Underlying Policies 2. Standard Doctrine B. The First Circuit's Single Business Enterprise Theory C. Traditional Veil-Piercing vs. the First Circuit's Single Business Enterprise Theory D. Recent Developments of the First Circuit's Single Business Enterprise Theory IV. Analysis Of The First Circuit's Single Business Enterprise Theory A. Poor Legal Methodology 1. The 18-Factor Test is Based on the Misapplication of Previous Jurisprudence a. Baker v. Raymond International, Inc. b. Glenn v. Wagner c. Paramount Petroleum Corp. v. Taylor Rental Center 2. The First Circuit's Single Business Enterprise Theory vs. Texas's Single Business...
