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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.
Download as PDF; Printable version; ... 2 BCLC 447 is a UK company law case concerning piercing the corporate veil. [1] Facts ... Lifting the corporate veil; Notes
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.
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.
Fraud, lifting the veil Re Darby, ex parte Brougham [1911] 1 KB 95 is a UK company law case concerning piercing the corporate veil . It is a clear example of the courts ignoring the veil of incorporation where a company is used to conceal a fraudulent operation.
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The consulting firm Russell Reynolds, which also tracks CEO changes, said high turnover shows growing risk appetites and "a desire for leaders who can navigate increasing complexity in the macro ...
Fraud, lifting the veil Gilford Motor Co Ltd v Horne [1933] Ch 935 is a UK company law case concerning lifting the corporate veil . It gives an example of when courts will treat shareholders and a company as one, in a situation where a company is used as an instrument of fraud.