Download or read book Piercing the Corporate Veil written by Michala Rudorfer and published by GRIN Verlag. This book was released on 2009-07 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2006 in the subject Law - Civil / Private / Trade / Anti Trust Law / Business Law, grade: A (1,0), New York University School of Law, language: English, abstract: Corporate law aims at protecting shareholders from being subject to personal liability for the risks of conducting business. The state created a corporate fiction which is a separate legal entity and distinctive from the shareholders and which offers the primary advantage of limited share-holder liability. The underlying notion is to encourage shareholders to provide capital and take on risky investments. In this way, the risk is shifted towards third parties and costs are external-ized. Overall, this investor attitude encourages economic development. Hence, limited liability can be seen as the "cornerstone of capitalism". However, as moral hazard comes into play, the externalization costs might exceed the benefits and, thus, damage third parties. In order to pro-mote justice, the presumption of limited liability must be occasionally rebutted and personal li-ability imposed on shareholders. 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." The objective of this paper is to lift the confusion of the doctrine and answer the question whether piercing the corporate veil is a sound concept. Moreover, it will be analyzed whether it is the pre-vailing alternative in dealing with the moral hazard problem of limited liability. Therefore, Part I will start with an explanation of piercing and the historical development of the doctrine. Competing doctrines of piercing will be presented and form the basis for the subsequent analysis of the main requirements for piercing. To illustrate the applica

Download or read book Lifting of Corporate Veil written by Prashant Yadav and published by . This book was released on 2017 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: The central purpose of this paper is to investigate the bounds of the principle of limited liability. Part I deals with law of piercing the veil. Part II analyses the common law grounds of lifting the veil that have been frequently proposed, to determine the underlying reasons for judicial disregard of the separate entity principle. It is suggested in this paper that these common law exceptions, viz. agency, fraud, avoidance of obligations, prevention of injustice, and imputation of members' characteristics to the company, are symptomatic of the courts' attempts to ensure that parties, both shareholders, creditors, and other third parties who may be considered by the court to have a legitimate interest in the affairs of the corporation, are not disadvantaged by actions of company management and shareholders protected by limited liability. Part III deals with the comparative aspect of the statutory provisions regarding piercing of veil.

Download or read book Lifting of the Corporate Veil written by Shaheen Banoo and published by . This book was released on 2020 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: “Lifting of the Corporate Veil; Departure from the Separate Personality Principle?” Solomon's case is a fountainhead of the Separate Personality Principle. Back in the year 1897 the legal world witnessed the literal interpretation of the law by the House of lords forsaking the principles of equity and fairness. However, the doctrine of the lifting of the corporate veil means moving the iron curtain a little to peek into the backstage of the company to see who're people behind the company and to also know about the real minds behind a company. The paper discusses a myriad of instances when lifting the iron curtain becomes necessary to see the backstage of a company only to appreciate the purpose of its incarnation better in the first place. The doctrine of the lifting of the corporate veil acts as a check on anyone attempting to benefit out of their wrongful acts hiding behind the company taking shelter and committing acts which the law otherwise prohibits.This paper attempts at explaining how this doctrine has challenged, and yet has helped in enriching the jurisprudence. It further provides an examination of the instances where lifting of the veil is justified for securing the ends of justice. Further, this paper constructs an analysis from the dawn of the doctrine to its present form and is divided into four parts which construct analysis of the concept, and the concomitant issues followed by the conclusion.

Download or read book Piercing the Corporate Veil written by Karen Vanderkerckhove and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This study clears up some of the mists hanging around the concept of corporate veil piercing. What exactly is corporate veil piercing and in which situations does it occur? What are the legal rules involved? Following a short overview of the applicable law in the six legal systems that are the subject of this study - those of Belgium, the Netherlands, France, Germany, the United Kingdom, and the United States - the author proceeds with a more profound analysis from a functional comparative perspective, starting from particular situations that typically call for shareholder liability for the debts of subsidiary companies." "Dr. Vandekerckhove's study is the most comprehensive, far-reaching, and up-to-date study of this important growing area of corporate law practice. As such it will prove of great value to practitioners, judges, and academics in the field, and will prove its worth anywhere in the world where the presence of multinational corporations is felt." --Book Jacket.

Download or read book Piercing the Corporate Veil written by Stephen B. Presser and published by Clark Boardman Callaghan. This book was released on 1991-01-01 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Lifting the Corporate Veil in the English Courts written by Charles Christopher James Mitchell and published by . This book was released on 1996 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Behind the Corporate Veil written by Organisation for Economic Co-operation and Development and published by Organisation for Economic Co-operation and Development. This book was released on 2001 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines ways to prevent and combat the misuse of corporate entities. The report shows that the types of corporate entities misused most frequently are those that provide the greatest degree of anonymity to their beneficial owners.

Download or read book Blumberg on Corporate Groups written by Phillip I. Blumberg and published by Wolters Kluwer. This book was released on 2005-01-01 with total page 5804 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new five volume "Second Edition" of "Blumberg on

Download or read book Lifting the Corporate Veil written by Otto Kahn-Freund and published by . This book was released on 1958 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Cases and Materials in Company Law written by L. S. Sealy and published by Oxford University Press. This book was released on 2007-10-04 with total page 783 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cases and Materials in Company Law is well-established as the best casebook on company law available. It covers all vital cases and combines sophisticated commentary with well-chosen notes and questions. This edition retains the original successful structure and style, whilst being fully updated to reflect changes following the Companies Act 2006.

Download or read book Lifting the Corporate Veil written by and published by . This book was released on 1990 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Piercing the Corporate Veil in Latin American Jurisprudence written by Jose Maria Lezcano and published by Routledge. This book was released on 2015-12-14 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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. The application of this remedy and the issues it involves has been widely researched in Anglo-American jurisdictions and, until recently, little attention has been given to this subject in Latin America. This region has been through internal political conflicts that undermined economic development. However, rise of democratic governments has created the political stability necessary for investment and economic development meaning that the corporate personality is now more commonly used in Latin America. Consequently, corporate personality issues have become a subject of study in this region. Drawing on case studies from Mexico, Colombia, Brazil and Argentina, Piercing the Corporate Veil in Latin American Jurisprudence examines the ingenuity of Latin American jurisdictions to deal with corporate personality issues and compares this method with the Anglo-American framework. Focusing in particular on the influence of two key factors- legal tradition and the uniqueness of each legal system- the author highlights both similarities and differences in the way in which the piercing of the corporate veil is applied in Latin American and Anglo-American jurisdictions. This book will be of great interest to scholars of company and comparative law, and business studies in general.

Download or read book To Lift Or Not to Lift the Veil the Unfinished Story written by Louis Velaphi Mthembu and published by . This book was released on 2002 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Company Law Significance of corporate personality and the meaning of lifting the veil of incorporation written by Louise Franklin and published by GRIN Verlag. This book was released on 2012-10-24 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2012 in the subject Law - Miscellaneous, grade: A, University of Westminster, course: BSc Accounting and Business Management, language: English, abstract: This is a critical assessment of the meaning and significance of the corporate personality doctrine and explains how it is applied in practice. It also contains an explanation of what is meant by "lifting the veil of incorporation" and critically assesses in which types of situation it may be applied.

Download or read book Company Law written by Alan J. Dignam and published by Oxford University Press, USA. This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: PART I: Fundamental Principles 1.: Introduction to company law 2.: Corporate personality and limited liability 3.: Lifting the veil 4.: Promoters and pre-incorporation contracts 5.: Raising capital: equity and its consequences 6.: Raising capital: debentures - fixed and floating charges PART II: Behind the Corporate Veil 7.: Share capital 8.: The constitution of the company: memorandum and articles of association: dealing with insiders 9.: Classes of shares and variation of class rights 10.: The principle of majority rule 11.: Statutory shareholder remedies Part III: Corporate Authority 12.: The constitution of the company: dealing with outsiders 13.: Corporate management 14.: Directors' duties 15.: Corporate governance 1: corporate governance and corporate theory 16.: Corporate governance 2: the UK corporate governance debate 17.: Corporate rescue and liquidations.

Download or read book An analysis of lifting the corporate veil for the application in German courts written by and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book A Study of piercing the Corporate Veil in Chinese New Company Law and Its Legal Practice in China written by Yao Cui and published by . This book was released on 2008 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: In modern company law, the concepts of a separate corporate personality and Limited liability protect shareholders from being liable for unlimited company's debts. This function of modern company law encourages the development of capital economy, however, it also poses a risk of abuse of the granted rights. Most modern company law systems have created the doctrine of "piercing the corporate veil" to avoid this risk of abuse. China formally established the doctrine of "piercing the corporate veil" in Chinese new company law in 2006. This ended the uncertain status of the application of veil-piercing doctrine in Chinese law. This thesis explores the development of the doctrine of "piercing the corporate veil" in Chinese company law and aims to highlight why it is significant to legalize the veil-piercing doctrine in Chinese new company law. The thesis also studies the expressed regulation of the doctrine of "piercing the corporate veil" in Chinese new company law and its current legal practice in China. Accepting the significance of legalizing the doctrine in new law, the thesis critiques the ambiguous scopes or narrow provisions of this new doctrine in legal practice; and also makes some proposals on this issue. The thesis concludes that it is desirable to find a feasible scope of application for the veil-piercing doctrine in China.