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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 incurs and the sole beneficiary of the credit it is owed.
Lifting the veil Jones v Lipman [1962] 1 WLR 832 is a UK company law case concerning piercing the corporate veil . It exemplifies the principal case in which the veil will be lifted, that is, when a company is used as a "mere facade" concealing the "true facts", which essentially means it is formed to avoid a pre-existing obligation.
The corporate veil in the United Kingdom is a metaphorical reference used in UK company law for the concept that the rights and duties of a corporation are, as a general principle, the responsibility of that company alone. Just as a natural person cannot be held legally accountable for the conduct or obligations of another person, unless they ...
The lace veil — technically called a mantilla — has been worn in the presence of a Pope by many former first ladies, including Jackie Kennedy, Pat Nixon, Betty Ford, Rosalynn Carter, Nancy ...
To reach this conclusion the Court examined the requirements to "lift the veil". Wilson J. explained: The law on when a court may disregard this principle by "lifting the corporate veil" and regarding the company as a mere "agent" or a "puppet" of its controlling shareholder or a parent corporation follows no consistent principle.
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When Meghan Markle arrived at St. George's Chapel, all eyes were on her stunning Givenchy gown, including the dramatic veil she wore with it. It turns out that there is a special meaning to the veil.
The veil is a bridal one, because the velatio virginum primarily signified the newly consecrated virgin as the Bride of Christ. In ancient times his veil was called the flammeum because it was supposed to remind the virgin of the indissoluble