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The Second Circuit affirmed the District Court's finding in favor of Kodak. The court found that since Atex was incorporated in Delaware, that Delaware laws applied. The court then considered both an alter ego theory and an agency liability theory that could impute responsibility for Atex's actions to Kodak. The court also briefly discussed and ...
Similarly, in Gencor v Dalby, [33] the tentative suggestion was made that the corporate veil was being lifted where the company was the "alter ego" of the defendant. In truth, as Lord Cooke (1997) has noted extrajudicially, it is because of the separate identity of the company concerned and not despite it that equity intervened in all of these ...
Lennard's Carrying Co Ltd v Asiatic Petroleum Co Ltd [1915] AC 705 is a famous decision by the House of Lords on the ability to impose liability upon a corporation.The decision expands upon the earlier decision in Salomon v Salomon & Co. [1897] AC 22 and first introduced the "alter ego" theory of corporate liability.
The domination of the parent company over the subsidiary had to be complete for the parent company to be treated as liable for the debts of the subsidiary. It was needed that the subsidiary be merely the alter ego of the parent, or that the subsidiary be thinly capitalized, so as to perpetrate a fraud on the creditors. Cardozo J said the following.
Alter-ego theory of corporate liability, establishing that directors are the controlling minds of the company and therefore the company is liable for their misdeeds. Dunlop Pneumatic Tyre v Selfridge and Co. Ltd. 1915 A.C. 847 Privity in contract law Herd v Weardale Steel Coal & Coke Ltd. 1915 A.C. 67, 84 L.J.K.B. 121 (H.L.) Unlawful imprisonment
More recently, it has taken on a new and unlikely identity: the fraud victim known as “Investor 1” in a Justice Department complaint accusing Al-Naji of criminal wrongdoing.
The extent of authority is a question fact and is significantly more than the fact of an employment that gave the employee the opportunity to carry out the fraud. In Panorama Developments (Guildford) Ltd v Fidelis Furnishing Fabrics Ltd [1971] 2 QB 711, a company secretary fraudulently hired cars for his own use without the managing director ...
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