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- the veil of incorporation may be lifted where a company is a sham and no third party has an involvement with it
- it may also be lifted where the company is a party to a fraud
- it will not be lifted just because justice demands
- a director can escape personal liability to a third party in negligence by acting through his company and ensuring that he is perceived as accepting no personal liability for what he is doing
- he cannot escape personal liability where he acts fraudulently on behalf of his company
answers creditted to Mike Griffiths - Principal Lecturer in Law, Kensington Business School
What else can I help you with?
When was The Lifted Veil created?
The Lifted Veil was created in 1859-07.
When is the bride's veil lifted?
The brides veil is lifted right before the kiss
When was Visions of the Lifted Veil created?
Visions of the Lifted Veil was created in 2009-11.
Who lifted Kate's veil during the wedding?
Kate's Father lifted up her veil during the wedding
What are the release dates for The Lifted Veil - 1914?
The Lifted Veil - 1914 was released on: USA: 4 January 1914
What are the release dates for The Lifted Veil - 1917?
The Lifted Veil - 1917 was released on: USA: 10 September 1917
What actors and actresses appeared in The Lifted Veil - 1914?
The cast of The Lifted Veil - 1914 includes: Chester Barnett Pearl White
Has the veil been lifted, revealing the truth behind the mystery?
Yes, the veil has been lifted, revealing the truth behind the mystery.
What new perspectives or insights have emerged for you since the veil was lifted on this situation?
Since the veil was lifted on this situation, new perspectives and insights have emerged, allowing for a deeper understanding and awareness of the underlying issues at play.
Under what circumstances may the veil of incorporation be lifted and the share-holders held personally reliable for the company's obligation?
Under three circumstances, corporate veil can be lifted by court, One of them is as follows : 1. When no. of sharesholders in private ltd co. goes down below 2 and in the case of public limited co, when no. of shareholders goes down below 7, the court of law can lift the corporate veil and directors get liable for the entire debts of the the company in the case of winding up. Abhay Kumar Srivastava Pursuing CS (executive) 08650002400, dehradun
Various ways by which the veil of incoperation can be lifted?
The veil of incorporation can be lifted through various legal doctrines and principles, primarily when there is evidence of fraud, misuse of the corporate form, or to prevent injustice. Courts may pierce the veil if shareholders fail to observe corporate formalities, commingle personal and corporate assets, or use the corporation to perpetrate harmful activities. Additionally, in cases where the corporation is undercapitalized or serves as a mere alter ego of its owners, courts may disregard the separate legal entity to hold individuals personally liable. Ultimately, the decision to lift the veil lies at the discretion of the courts, aimed at achieving fairness and justice in specific cases.
Is the veil being lifted to reveal the truth behind the mysterious disappearance?
Yes, the truth behind the mysterious disappearance is starting to be revealed.
