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Journal articles on the topic 'Corporate veil'

Author: Grafiati
Published: 4 June 2021
Last updated: 31 July 2024

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1

GAUTAM, DEVANG. "Corporate Personality and Lifitng of the Corporate Veil." Paripex - Indian Journal Of Research 3, no. 1 (January 15, 2012): 92–94. http://dx.doi.org/10.15373/22501991/jan2014/27.

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2

Macey, Joshua. "What Corporate Veil?" Michigan Law Review, no. 117.6 (2019): 1195. http://dx.doi.org/10.36644/mlr.117.6.what.

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3

Dewi, Sandra. "MENGENAL DOKTRIN DAN PRINSIP PIERCING THE CORPORATE VEIL DALAM HUKUM PERUSAHAAN." Soumatera Law Review 1, no. 2 (October 31, 2018): 380–99. http://dx.doi.org/10.22216/soumlaw.v1i2.3744.

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Business entities in the business world are well-known that are already in the form of companies or those that are not yet companies. Based on its legal form, the company is divided into two, namely companies with legal status and those that are not legal entities. As an independent legal entity pursuant to Article 3 paragraph (1) the Limited Liability Company Law stipulates that the responsibility of PT shareholders is limited to the value of shares held in the company. Economically, the element of limited liability of the company's shareholders is an important factor as a motivating bait for the willingness of prospective investors to invest in the company. The formulation of the problem in this paper is: 1) how the piercing doctrine of the corporate veil in corporate law and 2) how to apply the principle of piercing the corporate veil in Indonesia. The type of writing used in this writing is a type of normative legal research. The doctrine of piercing the corporate veil in corporate law can be seen from: a) piercing the corporrate veil; b) the doctrine of fiduciary duty; c) self dealing transaction doctrine; d) doctrine corporate opportunity; e) doctrine businnes judgment rule; f) ultra vires and intra vires. Application of the Piercing Principles of the Corporate Veil in Indonesia: a) company shareholders; b) company founder; c) company directors; and d) commissioners of limited liability companies.
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4

Gu, Guang Shu. "Research of Legislation and Practice for Piercing the Corporate Veil under New Companies Act in China." Advanced Materials Research 488-489 (March 2012): 1243–47. http://dx.doi.org/10.4028/www.scientific.net/amr.488-489.1243.

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Pierce the corporate veil rules together with the company's independent personality constitutes a complete, rigorous corporate system. Pierce the corporate veil rules as part of a corporate system, and improve its position in the supplement, which is the balance between corporate interests of shareholders and creditors of the company's results. Pierce the corporate veil rules apply to particular legal relationship, it is by denying the company's independent personality behind the company investigated for abuse of corporate personality and limited liability of shareholders independent of the liability of shareholders. Make up the deficiencies inherent in the corporate system to protect the legitimate interests of creditors of the company. Pierce the corporate veil in order to achieve the value of the rules of fairness and justice, our country should be based on the theory from abroad. With China's judicial practice, judicial interpretation and give full play to the role of a typical case, a reasonable allocation of the burden of proof. Prudential rules applicable to pierce the corporate veil and do advance prevention. Try to avoid piercing the corporate veil applies the rules to further improve the new company law in China under the rule of piercing the corporate veil.
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Tomczak, Tomasz. "The Enforcement of Environmental Damages Judgement as a Basis for Piercing the Corporate Veil within a Corporate Group." Problemy Prawa Prywatnego Międzynarodowego 28 (June 30, 2021): 197–234. http://dx.doi.org/10.31261/pppm.2021.28.07.

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The present article, on the basis of the high-profile Chevron case, rethinks the principle of corporate veil within a corporate group. It tries to convince the reader that a plaintiff holding an environmental damages judgement should be able to enforce it against any company in the corporate group of defendant regardless of the fact that such company was not a defendant in the underlying action (the new test). To attain this goal, firstly, the basic notions as an “environmental damages judgement,” a “corporate group,” and “the corporate veil” are explained. The article then elaborates on the importance of the corporate veil principle. Furthermore, it describes what would currently constitute a potential ground for piercing of the corporate veil in Canada. Later on, it provides a three-level justification for why the veil, in the described circumstances, should be pierced. Finally, the new test regarding piercing the corporate veil is proposed.
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MARAŠ, IVANA, and DARKO GOLIĆ. "PIERCING THE CORPORATE VEIL." Kultura polisa, no. 44 (March 8, 2021): 279–91. http://dx.doi.org/10.51738/kpolisa2021.18.1r.4.03.

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The subject of the paper is the institute of piercing the corporate veil – the review of norms as well as court practice cases related to the application of this institute. The primary goal of this paper is detailed presentation of the institute of piercing the corporate veil, as an important exception from the principle of limited liability with certain forms of companies and recognition of important significance that is still not entirely used in practice. The conclusion from research is that it is necessary to provide a more precise and clearer positive legal regulations of this institute in order to unify court practice and facilitate creditors in applying and proving rights through the institute of piercing the corporate veil. With more precise regulation of legal provisions and positive examples of court practice, the creditors would be encouraged to use this instrument more frequently. Methods used in this paper include dogmatic method, normative method, comparative method as well as axiology method, explained in more detail below.
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7

Vandekerckhove, Karen. "Piercing the Corporate Veil." European Company Law 4, Issue 5 (October 1, 2007): 191–200. http://dx.doi.org/10.54648/eucl2007049.

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8

Garcia, Márcio Gomes Pinto. "The Corporate Veil Revisited." Brazilian Review of Econometrics 9, no. 2 (November 2, 1989): 155. http://dx.doi.org/10.12660/bre.v9n21989.3075.

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9

Nyombi, Chrispas. "Lifting the veil of incorporation under common law and statute." International Journal of Law and Management 56, no. 1 (February 4, 2014): 66–81. http://dx.doi.org/10.1108/ijlma-03-2013-0011.

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Purpose – The paper examines case law and statutory provisions related to lifting the corporate veil. The aim of the paper is to explore recent case law in order to determine whether courts have moved away from an overly restrictive approach when dealing with cases relating to the corporate personality. To offer a full account of the exceptions to the corporate personality doctrine, this paper also examines cases where the veil of incorporation is lifted due to a breach of a statutory provision. Design/methodology/approach – The paper reviews recent case law and statutory provisions relating to lifting the corporate veil. The paper critically reviews the exceptions to the corporate personality doctrine which amount to lifting the corporate veil. Findings – The paper finds that courts are more willing to lift the corporate veil compared to before. They have moved away from the restrictive approach and this is demonstrated by the tendency to find new exceptions to the corporate personality doctrine such as the interests of justice argument or lifting the veil in tort cases. Originality/value – The paper offers an up-to-date assessment of the exceptions to the corporate personality doctrine and highlights the growing tendency to finding new ways of lifting the corporate veil.
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10

Kholmirzaev, Utkirbek. "The Necessity Of Piercing Corporate Veil Doctrine In Uzbek Corporate Law." American Journal of Political Science Law and Criminology 02, no. 12 (December 27, 2020): 83–90. http://dx.doi.org/10.37547/tajpslc/volume02issue12-13.

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This article discusses the distribution of liability risks of shareholderss and other controlling persons on corporate liabilities. Given the analysis of ex post and ex ante model of control over distribution of risks of civil turnover participants in common law and continental legal traditions. Also, considered problems of shareholders' liability on obligations of corporations in the Republic of Uzbekistan. A shareholder shall be held liable on a subsidiary basis for the obligations of the legal entity in case of insolvency, as a result of the member's wrongful acts. However, some mechanisms of such liability do not allow to resolve the issue fairly.
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11

Dewi, Sandra. "Prinsip Piercing The Corporate Veil Dalam Perseroan Terbatas Dihubungkan Dengan Good Corporate Governance." Jurnal Hukum Respublica 16, no. 2 (June 13, 2018): 252–66. http://dx.doi.org/10.31849/respublica.v16i2.1439.

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Tujuan penelitian ini menjelaskan prinsip piercing the corporate veil dapat menunjang terwujudnya GCG dalam rangka mencegah penyalahgunaan kekuasaan pemegang saham. Metode penelitian ini hukum normatif dengan pendekatan perundang-undangan), konsep dan kasus. Hasil penelitian ini dapat dijelaskan bahwa prinsip piercing the corporate veil menunjang terwujudnya GCG dalam rangka mencegah penyalahgunaan kekuasaan pemegang saham. Prinsip piercing the corporate veil tersebut dapat membatasi atau mencegah perbuatan melawan hukum yang dilakukan pemegang saham, komisaris, dan direksi yang memanfaatkan fasilitas perseroan untuk kepentingan pribadi atau penyalahgunaan kekayaan perseroan. Kesimpulan penelitian ini bahwa akibat hukum prinsip piercing the corporate veil terhadap tanggung jawab PT apabila dilanggar menyebabkan tanggung jawab perseroan yang tadinya terbatas menjadi unlimited liability (tanggung jawab tidak terbatas) hingga sampai harta pribadi dari pemegang saham. Dalam perkembangannya, tanggung jawab hukum tidak terbatas ini dapat dibebankan kepada organ perseroan lainnya, seperti komisaris atau direksi apabila terlibat dalam pelanggaran prinsip piercing the corporate veil. Dengan penerapan tanggung jawab pribadi berdasarkan prinsip piercing the corporate veil maka menjadi kewajiban hukum dari organ perseroan meliputi direksi, pemegang saham, dan komisaris yang menyalahgunakan wewenang untuk bertanggung jawab sampai pada harta kekayaan pribadi serta memberikan kepastian dan perlindungan hukum bagi stakeholders (para pemangku kepentingan) yang dirugikan atas kegiatan usaha yang dijalankan para organ.
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12

Iqlima Thahirah, Maulidhina Amalia Fauziah, and Sumriyah Sumriyah. "Realitas Prinsip Piercing The Corporate Veil dalam Mewujudkan Good Corporate Governance." Jurnal Hukum dan Sosial Politik 1, no. 1 (February 28, 2023): 41–47. http://dx.doi.org/10.59581/jhsp-widyakarya.v1i1.190.

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. The purpose of this article is to establish the development of the legal theory and doctrine of Piercing The Corporate Veil in the law on limited liability companies. The legal reform of legal persons can be traced back to two milestones in the history of legal persons, namely, firstly, the emergence of the theory of legal persons, which focuses on the personalization of legal persons as if they were persons, and secondly, the emergence of the corporate law doctrine known as Piercing the Corporate Veil, which is motivated to reveal the legal veil of the persons behind the company, namely, shareholders, directors and managers. The research method is normative law with a normative approach), concepts and cases. The results of this study can be attributed to the fact that the principle of piercing the corporate veil supports the implementation of the GCG to prevent the abuse of shareholder power. The principle of piercing the corporate veil can limit or prevent unlawful acts committed by shareholders, commissioners and directors who exploit corporate opportunities for personal gain or misuse of corporate assets. The conclusion of this study is that the legal effect of the principle of piercing the corporate shield on the liability of the PT, if violated, has the effect of limiting the liability of the company to unlimited liability (unlimited liability) up to the personal assets of the shareholders.
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13

Abdurrahman, ,., and ,. Pujiyono. "POLITIK HUKUM DOKTRIN PIERCING THE CORPORATE VEIL PADA PENGELOLAAN PERSEROAN TERBATAS DI INDONESIA." Jurnal Hukum dan Pembangunan Ekonomi 7, no. 2 (July 16, 2020): 181. http://dx.doi.org/10.20961/hpe.v7i2.43002.

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<p>Abstract<br />This article aims to examine the legal politics of the doctrine of Piercing the Corporate Veil in the regulation of Limited Liability Companies in Indonesia. The problems discussed are related to how the legal politics of the Piercing the Corporate Veil doctrine in the management of Limited Liability Companies in Indonesia. The research method used is normative legal research with the nature of prescriptive research using a statute approach. The results of the study indicate that the Piercing the Corporate Veil doctrine can eliminate the previously limited liability of the Company’s organs to be unlimited if the Company’s organs are proven to have done an act that is detrimental to the Company or third parties.</p><p>Keywords: limited liability company; Responsibility of Company Organs; Piercing the Corporate Veil</p><p>Abstrak<br />Artikel ini bertujuan mengkaji terkait politik hukum doktrin Piercing the Corporate Veil dalam peraturan Perseroan Terbatas di Indonesia. Permasalahan yang dibahas adalah terkait bagaimana politik hukum doktrin Piercing the Corporate Veil dalam pengelolaan Perseroan Terbatas di Indonesia. Metode penelitian yang digunakan adalah penelitian hukum normatif dengan sifat penelitian preskriptif dengan menggunakan pendekatan statute approach. Hasil penelitian menunjukkan bahwa doktrin Piercing the Corporate Veil dapat menghapuskan pertanggungjawaban organ Perseroan yang sebelumnya terbatas menjadi tidak terbatas jika organ Perseroan terbukti melakukan perbuatan yang merugikan bagi Perseroan maupun pihak ketiga.</p><p>Kata kunci: Perseroan Terbatas; Pertanggungjawaban Organ Perseroan; Piercing the Corporate Veil</p>
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14

Lee, Jong-Wook. "Reverse Piercing of Corporate Veil." Korean Association of Civil Law 98 (March 31, 2022): 185–223. http://dx.doi.org/10.52554/kjcl.2022.98.185.

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15

Kusuma, Ng Catharina Enggar, and Fl Yudhi Priyo Amboro. "Doing the Corporate Business with Piercing the Corporate Veil Doctrine: Indonesia, Us And Uk Perspective." Sociological Jurisprudence Journal 3, no. 2 (August 7, 2020): 126–29. http://dx.doi.org/10.22225/scj.3.2.1832.126-129.

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The absence of piercing the corporate veil doctrine in the Indonesian company law shows that the subsidiaries of such corporate groups are considered a separate legal personality, hence it is probably almost impossible to held the parent company liable for its subsidiaries’ legal actions under any conditions. This research adopted a normative legal research with a comparative law study method. The goal of this research is describe the implementation of piercing the corporate veil doctrine in Indonesia, US and UK, then to make the points of contribution of this doctrine to be regulated properly in Indonesia. In fact, piercing the corporate veil doctrine is implemented in Indonesia, although there was not any normative legal basis of the doctrine itself, whereas in US and UK, the doctrine is implemented and further developed through precedents. Therefore, since there is an evident relationship between a parent company and its subsidiary, whereby in certain cases the parent company can and should be held liable for the acts of its subsidiary, there should be a more explicit regulation regarding both corporate groups and piercing the corporate veil doctrine.
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16

Tweedale, Geoffrey, and Laurie Flynn. "Piercing the Corporate Veil: Cape Industries and Multinational Corporate Liability for a Toxic Hazard, 1950–2004." Enterprise & Society 8, no. 2 (June 2007): 268–96. http://dx.doi.org/10.1017/s1467222700005863.

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The ‘corporate veil’ refers to the separation of legal identity between parent firms and their subsidiaries, which gives the parent protection against the liabilities of its subsidiaries. Fearing that such liability protection would facilitate illicit activity, early twentieth century courts, especially in America, would sometimes ‘pierce’ the corporate veil. This article explores Adams v. Cape (1990), in which American plaintiffs attempted to persuade the English courts to lift the corporate veil and impose liability for industrial disease on Cape Industries, a leading U.K. asbestos manufacturer. This landmark case shows how corporate strategy can be closely intertwined with international corporate law and occupational health and safety issues. It also highlights how limited liability law and separate legal personality can result in significant injustice to claimants against multinational enterprises.
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17

Ceronja, Petar. "Širenje učinaka arbitražne klauzule na treće putem proboja pravne osobnosti." Zbornik Pravnog fakulteta u Zagrebu 72, no. 1-2 (June 1, 2022): 727–53. http://dx.doi.org/10.3935/zpfz.72.12.22.

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The paper elaborates the possibility of extending the arbitration clause to entities which are not formal parties to the arbitration agreement (Non-Signatories) through the piercing of the corporate veil. Piercing of the corporate veil is a company law concept through which separate legal existence of a company is being disregarded (pierced) in order for the creditors to be able to expand their claims against the company to assets or other rights of the company's shareholders. Basic substantive company law standards for piercing the corporate veil are explained. A stance is taken that under Croatian law, in line with comparative legal literature and views of renowned scholars, it would be allowed to expand an arbitration clause to a Non-Signatory shareholder of the company if certain conditions are met. It is pointed out that the piercing of the corporate veil in corporate law, as well as a method of extension of the arbitration clause, is an exception to the general rule and thus imposes a high standard of proof and places the burden of proof on the party invoking its application. Piercing of the corporate veil is compared to some other typical cases of extending arbitration clauses to Non-Signatories. The most common cases and reasons for piercing are illustrated. In conclusion, practitioners are advised on how to draw up arbitration clauses to avoid the need to expand its application altogether through this method, and are being cautioned against the circumstances which need to be taken into account if the extension of the arbitration clause through the piercing of the corporate veil is considered.
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Гутников, Олег, and Olyeg Gutnikov. "Responsibility before creditors in the corporate relations: tendencies and prospects of development of rules of law." Journal of Russian Law 2, no. 7 (September 18, 2014): 20–31. http://dx.doi.org/10.12737/4820.

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This article is about the corporate disregard. Explicates the main principle of corporate law — separation of legal entity (separate legal personality) and separation of corporate property from person and property of participants of that corporation (separation principle). Author analyzed norms of the existing legislation, which are departing from this principle and allow cases to make the founders of a legal entity (or other persons having the ability to determine the actions of the legal entity) accountable for the obligations of that legal entity. Define the boundaries of application of the “piercing the corporate veil” doctrine, on the creation the legal rules on the liability to creditors of the legal person founders and other persons. The author concludes that the application of the “piercing the corporate veil” doctrine is possible only in case of corporate property deficiency during the creation or liquidation of juridical persons. Proposed to extend the relevant uniform rules on any legal entity. At the same time substantiates the thesis against use of the “piercing the corporate veil” doctrine during the existence of the legal entity as violating “the principle of separation”. The author writes about necessity exemption in applicable law cases of the “piercing the corporate veil” doctrine during the existence of the legal entity. Also attention turn to the vagueness of “reverse veil piercing” doctrine in the domestic law, when it concern the interests of the creditors-participating entity, in cases when it is possible to hold a legal entity accountable for the debts of its founders (participants) or the owner of the property.
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19

Bergkamp, Lucas, and Wan-Q. Pak. "Piercing the Corporate Veil: Shareholder Liability for Corporate Torts." Maastricht Journal of European and Comparative Law 8, no. 2 (June 2001): 167–88. http://dx.doi.org/10.1177/1023263x0100800204.

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20

Zmysłowska, Magdalena. "Odpowiedzialność przebijająca w prawie amerykańskim i włoskim." Prawo w Działaniu 34 (2018): 73–136. http://dx.doi.org/10.32041/pwd.3402.

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The paper discusses issues relating to piercing of the corporate veil in the context of protecting company creditors. The notion of piercing the corporate veil comprises any situations when a company’s autonomy vis-a-vis the members or that of the members vis-a-vis the company or other related entities is somewhat relativised due to finding circumstances that prove an abuse of the norms concerning separate legal personality of a company. The purpose of this mechanism in some legal orders is an attempt at eliminating dishonest actions of such entities that abuse the privilege of legal personality. Therefore, the piercing of the corporate veil is a response to the demands of economic transactions and is intended to ensure additional protection to creditors of companies or creditors of members of companies. Within the framework of the paper, the issues relating to piercing the corporate veil are analysed in the context of US and Italian law. In the discussion of the particularities of the US system, the basic theories of piercing of the corporate veil formulated by US legal scholars are presented, along with the way these theories are applied in those states where judgments relating to piercing the corporate veil are the most frequent, that is, New York, Texas, California, and Delaware. In turn, the Italian Republic is among the few European states where laws regulating the liability of the parent company to creditors of its subsidiaries were introduced. Consequently, an analysis of the Italian provisions may be important in the context of drawing conclusions for research problems concerning the system of Polish law.
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21

Xiao, Luo, and Jun Chen. "The Sword Hanging High—Discussion on the Enlightenment of the “Piercing the Corporate Veil” System to Company Operation and Its Effects." Journal of Economics and Public Finance 7, no. 5 (September 23, 2021): p1. http://dx.doi.org/10.22158/jepf.v7n5p1.

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“Piercing the corporate veil” system is a subversion and exception to the company’s independent personality system and the shareholder limited liability system, but these two are dialectically unified, which are like two sides of a coin. Enriching and improving the legal person system can pave a smooth way for the construction of a fair and legal business environment. Through case study, analysis and comment, this article will explore what enlightenment and guiding role “piercing the corporate veil” system has in corporate operation, and how to ring the alarm to operators and shareholders. Through case study and review, this article summarizes the practical effects of “piercing the corporate veil” system, and help readers have a deeper understanding of the important status of this system.
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Li, Minghao. "Enlightenment of American Legal Theory and Practice of "Piercing the Corporate Veil" to China." Journal of Politics and Law 14, no. 4 (July 30, 2021): 80. http://dx.doi.org/10.5539/jpl.v14n4p80.

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Observing the current legal system and theory of America, &quot;piercing the corporate veil&quot; is in a state of &quot;chaos&quot; in both of them. How can China learn from the rule of law and the theory of &quot;piercing the corporate veil&quot;? How to avoid its harm and gain its benefits? Due to different national conditions and judicial systems, also differences between civil law system and common law system, and at the same time, the world is in the era of globalization, the exchange of legal culture of Chinese legal system is expanding and deepening day by day. Therefore, it is necessary to study the rule and theory of &quot;piercing the corporate veil&quot;. This paper systematically summarizes the current situation of the rule and theory of &quot;piercing the corporate veil&quot; in America, explores the causes of the confusion, and puts forward some suggestions to prevent the occurrence of problems in China after transplanting this rule, which is very necessary and timely.
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Harahap, Putri Sari, and Tumanggor Tumanggor. "Penerapan Asas Piercing The Corporate Veil: Perspektif Tanggung Jawab Direksi Perseroan Terbatas." Jurnal Nuansa Kenotariatan 1, no. 1 (April 18, 2018): 45. http://dx.doi.org/10.31479/jnk.v1i1.65.

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<p>Piercing The Corporate Veil principle is a common law doctrine that teaches about the veil special breakout company (corporate veil) covering the Board of Directors and other organs in running the company does not fit or have violated the principle of fiduciary duty (good faith) to the intent and purpose of the company.This type of research in this thesis is a normative legal research means tend to use secondary data in the form of primary legal materials, secondary law and tertiary legal materials. To collect the data in this research is a stud y done by the descriptive analysis. The resulted in losses for both the company and third parties, First Defendant's actions can be categorized as a tort (onrechtmatige daad) under Article 1365 of the Civil Code. In the verdict the judge in his ruling has been applying the principle of piercing the corporate veil but does not necessarily resolve the matter of debts between the Compa- ny (Plaintiff) with rights holders of promissory notes "mayofield notes" or the Board of Directors (Defendant 1) with the holders of promissory notes " mayofield note.</p><p>Keywords: Piercing the corporate veil, directors fiduciary duty</p>
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Ananda, Fauzan Rahmat, and Sri Widyawati. "COMPARISON OF THE IMPOSITION OF THE DOCTRINE OF PIERCING THE CORPORATE VEIL IN A LIMITED LIABILITY COMPANY BETWEEN THE BOARD OF DIRECTORS AND SHAREHOLDERS IN TERMS OF LAW NUMBER 40 OF 2007 CONCERNING LIMITED LIABILITY COMPANY." Pena Justisia: Media Komunikasi dan Kajian Hukum 23, no. 1 (March 17, 2024): 679. http://dx.doi.org/10.31941/pj.v23i1.3698.

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<em>The purpose of writing this journal is to determine the comparison of the imposition of the doctrine of piercing the corporate veil in a Limited Liability Company between the Board of Directors and shareholders, with a review of Law Number 40 of 2007 concerning Limited Liability Companies (UUPT). The Doctrine of Piercing the Corporate Veil is a doctrine that has long been present in the business world, especially attached to the legal entity of Limited Liability Companies in Indonesia. UUPT as the law governing Limited Liability Companies in Indonesia has set out the rules regarding the doctrine of piercing the corporate veil. The doctrine has historically been widely used in court decisions, the presence of the doctrine of piercing the corporate veil can penetrate the distinctive nature of a Limited Liability Company, namely limited liability. Departing from this inevitability, the author then formulates the problem in writing this journal, namely why there is a doctrine of piercing the corporate veil in a Limited Liability Company and how the comparison of the imposition of the doctrine of Piercing the Corporate Veil in a Limited Liability Company between the Board of Directors and shareholders is reviewed from the Company Law. The research method used is normative legal research, based on sources obtained through literature studies, in the form of primary, secondary, and tertiary legal materials related to the writing of this journal. This research shows that the presence of the doctrine of piercing the corporate veil in a Limited Liability Company is needed as a form of legal protection for the Limited Liability Company entity and its related parties, and there are differences in the imposition of the doctrine on the Board of Directors of the company and the company's shareholders. The difference in the imposition between the Board of Directors and the shareholders of the company is that, if the Board of Directors is required another article in relation to its good faith in running the company (fiduciary duty), while the shareholders of the company are expressly regulated in Article 3 of the Company Law.</em>
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Abdurrahman, Abdurrahman, and Pujiyono Pujiyono. "POLITIK HUKUM DOKTRIN PIERCING THE CORPORATE VEIL PADA PENGELOLAAN PERSEROAN TERBATAS DI INDONESIA." Jurnal Hukum dan Pembangunan Ekonomi 9, no. 2 (December 31, 2021): 250. http://dx.doi.org/10.20961/hpe.v9i2.29832.

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<p>Artikel ini bertujuan mengkaji terkait politik hukum doktrin <em>Piercing the Corporate Veil </em>dalam peraturan Perseroan Terbatas di Indonesia. Permasalahan yang dibahas adalah terkait bagaimana politik hukum doktrin <em>Piercing the Corporate Veil </em>dalam pengelolaan Perseroan Terbatas di Indonesia. Metode penelitian yang digunakan adalah penelitian hukum normatif dengan sifat penelitian preskriptif dengan menggunakan pendekatan <em>statute approach</em>. Hasil penelitian menunjukkan bahwa doktrin <em>Piercing the Corporate Veil </em>dapat menghapuskan pertanggungjawaban organ Perseroan yang sebelumnya terbatas menjadi tidak terbatas jika organ Perseroan terbukti melakukan perbuatan yang merugikan bagi Perseroan maupun pihak ketiga.</p>
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Juniar, Afif. "MENCARI BENTUK PEMIDANAAN TERHADAP PEMEGANG SAHAM KORPORASI DALAM TINDAK PIDANA LINGKUNGAN HIDUP." PALAR | PAKUAN LAW REVIEW 7, no. 2 (July 20, 2021): 109–31. http://dx.doi.org/10.33751/palar.v7i2.3660.

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Abstrak Tindak pidana korporasi biasanya melibatkan sistem yang ada dalam korporasi, sangat mungkin pemegang saham korporasi terlibat dan memengaruhi kebijakan pemimpin atau pengurus untuk melakukan tindak pidana. Sistem hukum Indonesia telah memberi peluang hukum dalam meminta pertanggungjawaban pemegang saham korporasi dengan mendasarkan pada ketentuan Pasal 3 ayat (2) UU Nomor 40 Tahun 2007 tentang Perseroan Terbatas yang telah mengadopsi doktrin piercing the corporate veil dan doktrin alter ego, sehingga terhadap pemegang saham dapat dikenakan pidana. Tulisan ini bermaksud membahas dua permasalahan pokok: pertama, bagaimanakah tindak pidana dan pertanggungjawaban Korporasi dan Pengurus atau Pimpinan Korporasi dalam tindak pidana lingkungan hidup; kedua, bagaimanakah konstruksi hukum dan pemidanaan bagi pemegang saham korporasi dalam tindak pidana lingkungan hidup. Tulisan ini merekomendasikan untuk tindak pidana lingkungan hidup yang melibatkan pemegang saham korporasi, doktrin piercing the corporate veil dan doktrin alter ego perlu diadopsi dan diperluas penerapannya dalam UU Nomor 32 Tahun 2009 tentang Perlindungan dan Pengelolaan Lingkungan Hidup dan UU sektoral terkait lingkungan hidup lainnya, sehingga memberi peluang terhadap pemegang saham yang melampaui kewenangannya (ultra vires) dan menggunakan korporasi untuk melakukan tindak pidana lingkungan hidup dapat dimintai pertanggungjawaban.Kata kunci: Tindak Pidana Korporasi, Pemegang Saham, Piercing the Corporate Veil, Alter Ego. Abstract Corporate crime usually involves the existing system in the corporation. Moreover, it is very possible that corporate shareholders are involved and influence the policies of leaders/administrators to commit criminal acts. The Indonesian legal system has provided a legal opportunity (for who/whom) to hold corporate shareholders accountable based on the provisions of Article 3 paragraph (2) of Law Number 40 of 2007 concerning Limited Liability Companies which have adopted the piercing the corporate veil doctrine and the alter ego doctrine, so that shareholders can be subject to it criminal. This paper intends to discuss two main issues: first, by what means the criminal act and the liability of the Corporation and the Management or Head of the Corporation in environmental crimes; second, by what method is the legal construction and punishment for corporate shareholders in environmental crimes. This paper recommends that for environmental crimes involving corporate shareholders, the doctrine of piercing the corporate veil and the doctrine of alter ego need to be adopted and expanded in its application in Law Number 32 of 2009 concerning Environmental Protection and Management and other environmental related sectoral laws, thus providing opportunities for shareholders who exceed their authority (ultra vires) and use corporations to commit environmental crimes can be held accountable. Keywords: Corporate Crime, Shareholders, Piercing the Corporate Veil, Alter Ego.
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Alanazi, Badar Mohammed Almeajel. "Piercing the corporate veil in various jurisdictions – Principled or unprincipled?" Corporate Board role duties and composition 16, no. 2 (2020): 47–53. http://dx.doi.org/10.22495/cbv16i2art4.

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The principle of limited liability of a company has been uniformly adopted by developed countries. In order to ensure a fair balance, the courts agree on occasion to ‘pierce’ or ‘lift’ the corporate veil, which involves imposing liability on the mother company for actions of its subsidiary or individual shareholders, directors, and other involved persons for actions of the company. In this regard, there have been several studies arguing the legal issues associated with the limited liability of a company and piercing the corporate veil such as Schall (2016) and Michoud (2019). This paper compares current veil-piercing practices in three jurisdictions: the UK, the US, and Australia in order to outline the advantages and limitations of the approaches taken by the courts in each country as well as to identify best practices in terms of veil piercing. For that purpose, an analytical approach to the examination of the relevant legal rules, principles, and court cases has been adopted in undertaking the present paper. The paper comes up with a number of specific suggestions and recommendations for improving the regulatory role in regard to the subject of piercing of the corporate veil.
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Anam, Mohammad Choirul. "Pertanggungjawaban Direksi dan Komisaris dalam Kepailitan berdasarkan Prinsip Pierching The Corporate Veil." YUSTISIA MERDEKA : Jurnal Ilmiah Hukum 7, no. 1 (April 15, 2021): 52–58. http://dx.doi.org/10.33319/yume.v7i1.64.

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This study aims to analyze assistance regarding the application of the principle of veil piercing to the Directors and Commissioners of the Company according to Law Number 40 of 2007 concerning Limited Liability Companies for bankruptcy work. This legal research uses juridical normative legal research which is descriptive analytical with a conceptual approach and an invited approach. Legal materials techniques use library research (library research) and are analyzed using qualitative analysis. Based on the results of the research, it shows that the enforcement violates the corporate veil, to protect the rights of shareholders for actions carried out by company organs such as Directors and commissioners who act not in accordance with company objectives. In carrying out their duties, the Board of Directors and commissioners must be based on good faith, caution and a sense of full responsibility towards the company. If the Board of Directors and Commissioners are negligent in carrying out their duties, resulting in the bankruptcy of the company. Directors and Commissioners may be subject to the principle of penetrating the corporate veil, namely personal liability to the personal assets of the Directors and Commissioners for losses incurred by the company and shareholders. This principle is used to protect the interests of the company and shareholders from actions that could harm the company by the Directors and CommissionersKeywords—: Pierching the Corporate Veil’s Principles; Responsibility; Directors; Commissioners; Bankruptcy.
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29

Dewi, Sandra. "Application of the Principle of Piercing the Corporate Veil in Resolving Corporate Responsibility Cases in Indonesia." International Journal of Law and Public Policy 2, no. 2 (September 27, 2020): 65–71. http://dx.doi.org/10.36079/lamintang.ijlapp-0202.147.

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This research aims to explain the application of the Principle of Piercing The Corporate Veil in resolving corporate responsibility cases in Indonesia. The method used in this research is normative legal research, using a statutory approach. The results of the research explain that based on Article 3 paragraph (1) of Law Number 40 of 2007 concerning Limited Liability Companies, it is stated that the shareholders of the company aren’t personally responsible for the agreements made on behalf of the company and aren’t responsible for the company's losses exceeding the shares they own. However, the doctrine in corporate law recognizes the existence of the Principle of Piercing the Corporate Veil which can break through the limited liability of the company's shareholders into unlimited liability up to their personal assets. Although the Principle of Piercing the Corporate Veil has been regulated in Law Number 40 of 2007 concerning Limited Liability Companies, there have been major cases in which the shareholders of the company were responsible up to their personal assets but only limited responsibility for the shares they owned. These major cases include the PT Lapindo Brantas case in 2006 and the PT Bank Century case in 2008.
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Yilmaz Vastardis, Anil, and Rachel Chambers. "OVERCOMING THE CORPORATE VEIL CHALLENGE: COULD INVESTMENT LAW INSPIRE THE PROPOSED BUSINESS AND HUMAN RIGHTS TREATY?" International and Comparative Law Quarterly 67, no. 2 (December 20, 2017): 389–423. http://dx.doi.org/10.1017/s0020589317000471.

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AbstractThis article proposes a model of treaty-based veil piercing for civil liability claims by victims of human rights harm inflicted by businesses. The primary inspiration for this model comes from investment treaty provisions dealing with corporate investors. Our examination of investment law for this purpose exposes the double standard in the treatment of the corporate veil between these two remedy regimes, and offers a way to address this. The test we propose for lifting the veil in order to allow victims to claim against the parent company in a corporate group is one of ‘legal control’. It aims to capture cases where the parent did not necessarily take an active role in the subsidiary's business, but it is still treated as being in control of the subsidiary by virtue of its direct or indirect ownership or ability to appoint management.
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31

LEE, Jongduk. "A study on Piercing the Corporate Veil." Institute for Legal Studies 39, no. 3 (September 30, 2022): 67–88. http://dx.doi.org/10.18018/hylr.2022.39.3.067.

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32

Słup, Paweł. "Piercing the Corporate Veil – A Common Pattern?" Comparative Law Review 24 (February 21, 2019): 287. http://dx.doi.org/10.12775/clr.2018.011.

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33

Frankland, Jane. "Numeric data integrity: piercing the corporate veil." Network Security 2009, no. 8 (August 2009): 11–14. http://dx.doi.org/10.1016/s1353-4858(09)70076-5.

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34

Jerrold, Laurance. "Punitive damages and piercing the corporate veil." American Journal of Orthodontics and Dentofacial Orthopedics 122, no. 1 (July 2002): 107–9. http://dx.doi.org/10.1067/mod.2002.124876.

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35

Reisman, Gregg, and Andrew L. Zwerling. "Piercing the Corporate Veil: The Threshold Criteria." Journal of the American College of Radiology 5, no. 8 (August 2008): 932–34. http://dx.doi.org/10.1016/j.jacr.2008.05.007.

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36

Spotorno, Pilar. "Vedanta and Okpabi: A Step Forward in Corporate Group Accountability?" Business Law Review 45, Issue 1 (January 1, 2024): 2–9. http://dx.doi.org/10.54648/bula2024001.

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This paper examines the evolving landscape of corporate group accountability, with a focus on recent pivotal judgments by the UK Supreme Court in Vedanta v. Lungowe and Okpabi v. Shell. These landmark cases have highlighted the potential for parent companies to be held liable for the actions of their overseas subsidiaries, based on the duty of care under tort law. The paper delves into the broader implications of these decisions, including their significance in piercing the transnational corporate veil and their unintended consequences. It also explores the debate surrounding whether these rulings encourage or deter multinational corporations (MNCs) from disclosing corporate-wide policies and conducting human rights due diligence in their subsidiaries, impacting corporate social responsibility and international standards. The paper concludes by offering insights into potential solutions to address the complex issue of the ‘perverse incentive’ created by Vedanta and Okpabi. duty of care, corporate group accountability, transnational corporate veil, parental corporate liability, Shell, Vedanta
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37

Ibrokhimov, Azimjon. "THE CONCEPT OF “LIFTING THE CORPORATE VEIL” AND ISSUES OF ITS IMPROVEMENT IN THE CORPORATE LAW OF UZBEKISTAN." Jurisprudence 1, no. 6 (December 15, 2021): 88–95. http://dx.doi.org/10.51788/tsul.jurisprudence.1.6./gyee5811.

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The principle that forms the basics of corporate law implies that the identity, property and liability of a legal entity are separated from the identity, property and liability of the shareholders and managers involved in it. However, there is a risk that the interests of creditors will be harmed as a result of the activities of some individuals who abuse limited liability formed in corporate law. In this regard, the practice of applying to the institute of “lifting the corporate veil” has been introduced in the corporate law of developed countries. In world practice, ex ante and post control measures are taken to ensure the interests of creditors of legal entities created with the element of limited liability. According to ex ante control it is meant that taking measures to ensure the interests of creditors when establishing a legal entity. These measures include the establishment of requirements for the minimum amount of the share capital, liability insurance of legal entities, etc. Post control envisages measures to ensure the interests of creditors at the stage of emergence of liability of legal entities and to strengthen and improve in the legislation the possibility of applying the concept of “lifting the corporate veil”. This article discusses the essence of the concept of “lifting the corporate veil” and issues related to the improvement of this concept in the corporate law of Uzbekistan, based on international experience.
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Mikalonienė, Lina. "Subsidiari akcininko atsakomybė." Teisė 76 (January 1, 2010): 176–89. http://dx.doi.org/10.15388/teise.2010.0.217.

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Šiame straipsnyje nagrinėjamas akcininko atsakomybės už bendrovės prievoles dėl nesąžiningo elgesio koncepcinis pagrindimas, kuris remiasi piktnaudžiavimo teise doktrina. Analizuojamas akcininko atsa­komybės pagal piktnaudžiavimo teise doktrinos ir akcininko deliktinės civilinės atsakomybės bendrųjų normų pagrindu santykis. Straipsnyje taip pat nagrinėjamas akcininko papildomos turtinės prievolės koncepcinis pagrindimas pagal Lietuvos Respublikos civilinio kodekso 2.50 straipsnio 3 dalį. This article explores dogmatic underpinning of piercing the corporate veil doctrine on the basis of theory on abuse of rights. The article also analysis relation between abuse of rights and tort, e.g. as basis for the shareholder’s liability in the veil piecing cases and as an independent legal ground for shareholder’s liability respectively. Theoretical foundation of the corporate veil piercing doctrine accor­ding to par. 3 Art. 2.50 of the Lithuanian Civil Code is under consideration.
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39

Siraganian, Lisa. "Dreiser’s Anti-Corporate Tools: Veil-Piercing and the Novel of Corporate Agency." American Literary History 30, no. 2 (2018): 249–77. http://dx.doi.org/10.1093/alh/ajy008.

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40

Okafor, Kathleen, and Ekene Eze. "An Anatomy of the Grounds of Lifting the Corporate Veil: Steps to Codification." International Journal of Family Business and Management 3, no. 2 (June 20, 2019): 1–11. http://dx.doi.org/10.15226/2577-7815/3/2/00131.

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A universal benefit of incorporation is the separate entity doctrine which shields the shareholders, directors and other operators from liability for corporate omissions. By the doctrine, the company’s debts are limited to the amount shareholders have paid or have agreed to pay to the company for its shares, in case of insolvency. Consequently, their other assets, homes, pension funds, cars, yachts, private jets will remain untouched. In response to the doctrine, the law has devised various safety nets to protect creditors through company laws, insolvency laws, general anti-corruption enactments, public policy initiatives and judicial interventions. Inevitably, there has been a vast ocean of controversies as to when and why a court will pierce the veil of incorporation to hold the shareholders and directors liable beyond their unpaid equity obligations. The reasons for the controversies are myriad as values of the society change, and as new business risks emerge in retail businesses, telecommunications, oil and gas, real estate, banking, tax regimes and finance. This paper attempts to stream line the underlining principles adopted by common law, case law and statutes to pierce the veil of incorporation like where the company is a façade, a sham, an alter ego, a puppet for crime as well as issues of public policy, environmental responsibilities and national security. Statutory provisions on lifting the corporate veil have also been provided. Thus, a bold attempt has been made to provide a clear and general compass for all jurisdictions as to when courts will pierce the corporate veil to guide judges, legislatures, corporate managers, law students etc.
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41

Waqas, Muhammad, and Zahoor Rehman. "Separate Legal Entity of Corporation: The Corporate Veil." International Journal of Social Sciences and Management 3, no. 1 (January 21, 2016): 1–4. http://dx.doi.org/10.3126/ijssm.v3i1.13436.

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The concept of separate legal entity is 500 years old and it means that the corporation is separate in all spheres of its activities. It is separate from its owner, from its employees and due to this separation between the corporation and an individual the shareholders’ liability is also limited. A corporation is established through four different ways i.e. continuity, self-governance, identification persona, and specification of assets. The personhood of a corporation is evolved with the passage of time through different court judgments in which Salomon case plays the role of corner stone. The corporation can own, sell and buy property in its name. The corporation can sue and be sued in the court of law as a legal person. Int. J. Soc. Sci. Manage. Vol-3, issue-1: 1-4
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42

Honkasalo, P., and J. Tahvanainen. "Piercing the corporate veil under the Copyright Act." Journal of Intellectual Property Law & Practice 8, no. 9 (July 17, 2013): 683–84. http://dx.doi.org/10.1093/jiplp/jpt121.

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43

Glode, John P. "Piercing the corporate Veil in Wyoming - An Update." Wyoming Law Review 3, no. 1 (January 1, 2003): 133–65. http://dx.doi.org/10.59643/1942-9916.1055.

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44

Murphy, Deborah L., and J. Edward Murphy. "Protecting the Limited Liability Feature of Your Family Business: Evidence from the U.S. Court System." Family Business Review 14, no. 4 (December 2001): 325–34. http://dx.doi.org/10.1111/j.1741-6248.2001.00325.x.

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One of the benefits cited for the organizational structure of a corporation or limited liability company is the limited liability feature associated with these forms of organization. However, our legal system contains a judicial doctrine known as piercing the corporate veil, which essentially asks the courts to disregard the limited liability feature of the organization and impose personal liability on the shareholders, officers, andqor directors. This study provides evidence regarding the extent to which the U.S. courts have ruled to pierce the corporate veil and suggests steps that family-owned businesses can take to minimize this potential risk.
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45

Mordedzi, B. "Responsibility for Corporate Debts in Ghana: A Conceptual Perspective." Pentvars Business Journal 1, no. 1 (December 1, 2007): 61–70. http://dx.doi.org/10.62868/pbj.v1i1.23.

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This paper analyses the corporate entity theory and the lifting of the corporate veil in Ghana. Two major principles form the basis of the analysis. First, a company is a separate legal entity with the powers of a natural person of full capacity. Secondly, members of the company usually have limited liability. The paper notes that there are many inroads into these principles. In some situations, the Companies Code 1963 (Act 179) enforces corporate debts and liabilities against the company. In other situations, the Companies Code enforces the company's debts and liabilities against corporate officers who knowingly allowed the commission of wrongful acts. This paper therefore concludes that, under the Companies Code, a company is both a separate corporate person and an economic entity. To this end, the courts can treat the acts of corporate officers as either those of the company itself or those of the officers themselves. This paper also urges the courts to abandon lifting the corporate veil and suggests that the courts should admit remedies based on well known business principles in agency, contract, conveyance, industrial law, insolvency, tort, and trust.
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Windatt, Peter. "The weakest link in the corporate chain." Nursing and Residential Care 21, no. 11 (November 2, 2019): 654–56. http://dx.doi.org/10.12968/nrec.2019.21.11.654.

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Rogue directors, money launderers and fraudsters looking to make easy money find the corporate veil of a company is a very good place to hide. Peter Windatt examines the statutory framework and explains how to protect your care home
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47

Santoso, Aditya Warman, Diva Ananti, and Master Amos P. Sianturi. "Application of piercing the corporate veil in investment law." International Journal of Politics and Sociology Research 11, no. 4 (March 13, 2024): 465–71. http://dx.doi.org/10.35335/ijopsor.v11i4.232.

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In terms of addressing Piercing the Corporate Veil, it’s a law principle that relates to Limited Liability Companies. One of Limited Liability Companies characteristics is a capability to disregard limited liability for the company’s organs, allowing the organs to be personally liable for wrongful acts that harm the company and other. Knowing this concept is important due to the dynamism of business law and investment law, where the company’s organs often engage in actions solely for personal benefit. This is intriguing due to company’s organs cannot be held personally accountable for corporate actions since the company and it’s organs are separate legal entities. Through normative legal research and a legal and conceptual approach, namely the doctrine of Piercing the Corporate Veil, it’s application to the company’s in investment law will be discussed
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48

Negara, Abdul Rahman Praja. "THE DOCTRINE OF PIERCING THE CORPORATE REVIEW IN THE COURT DECISION NO. 656/PDT.G/2015/PN.MDN." Indonesia Private Law Review 2, no. 2 (December 31, 2021): 73–84. http://dx.doi.org/10.25041/iplr.v2i2.2310.

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Limited Liability Company (Ltd.) or Perseroan Terbatas (PT) is a legal entity in Indonesia that constitutes a capital alliance formed by an agreement that features a limited liability principle. Limited liability is a principle that limits the responsibility of shareholders to the risk of the Company. However, the principle of limited liability is frequently misapplied, as shareholders look for ways to protect themselves from the risk of more significant losses, to take advantage of all company profits for personal gain. Shareholders who abuse the principle of limited liability for personal gain, on the other hand, will be subject to the Piercing the Corporate Veil doctrine. This doctrine imposes the transfer of liability for personal losses to shareholders who cause harm to the company in bad faith. Based on this understanding, this paper seeks to comprehend the application of the Piercing the Corporate Veil doctrine by analyzing Medan District Court Decision Number: 656/Pdt.G/2015/PN.Mdn. The research method used in this study was normative legal research reviewed with a statute approach and a conceptual approach. The conclusion drawn from the problem is as follows: the regulation regarding the Piercing the Corporate Veil doctrine is borne not only by shareholders but also by the Board of Directors and the Board of Commissioners who fail to implement the principles of fiduciary duty of skill and care. Furthermore, in the case of 656/Pdt.G/2015/PN.Mdn, the judge considered the provisions of Article 3 paragraph (2) of the UUPT in implementing the Piercing the Corporate Veil Doctrine by punishing the Defendants jointly and severally to indemnify the Plaintiff.
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49

kim, sang man. "A Study on the Piercing the Corporate Veil (or lifting the corporate veil) in the Flag of Convenience by a SPC." Journal of hongik law review 17, no. 4 (December 2016): 597–622. http://dx.doi.org/10.16960/jhlr.17.4.201612.597.

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Profumo, Giorgia. "Editorial: Advancing research on good corporate governance practices: The role of the board." Corporate Board role duties and composition 16, no. 2 (2020): 4–6. http://dx.doi.org/10.22495/cbv16i2editorial.

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The latest issue (volume 16, issue 2) of the journal Corporate Board: Role, Duties and Composition is exploring the topics of board director benchmarking information, board gender and risk-taking, board structure and firm performance, corporate veil and innovation governance. Overall, the articles in the present issue are dealing with timely topics and their results call for further research as, in some cases, they are challenging traditional corporate governance theories.
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