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Journal articles on the topic 'Piercing the corporate veil'

Author: Grafiati

Published: 4 June 2021

Last updated: 25 April 2022

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1

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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2

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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3

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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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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5

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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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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7

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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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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9

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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10

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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11

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, "piercing the corporate veil" is in a state of "chaos" in both of them. How can China learn from the rule of law and the theory of "piercing the corporate veil"? 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 "piercing the corporate veil". This paper systematically summarizes the current situation of the rule and theory of "piercing the corporate veil" 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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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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13

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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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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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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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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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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18

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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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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20

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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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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Abdul, Sola. "The Failures of the Insolvency Provisions: A Road to Establishing the Pertinence of Veil Piercing?" Business Law Review 42, Issue 5 (October 1, 2021): 221–30. http://dx.doi.org/10.54648/bula2021032.

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This article explores the pertinence of ‘piercing’ for fraudulent trading. It considers the failures of the insolvency provisions and examines the failures through the lens of the evasion principle for piercing. The article argues that the piercing doctrine does not prove to be an effective remedy of last resort. Despite this, the article argues against the abolition of veil piercing, as this would leave the law in a state of vacuity and concludes by suggesting methods of reform that could improve the doctrine. Piercing the Corporate Veil, the Fraudulent Trading Provision, the Wrongful Trading Provision, the Insolvency Act 1986, Prest v. Petrodel Resources Ltd, Morphitis v. Bernasconi

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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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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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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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Griffin, Stephen. "Disturbing corporate personality to remedy a fraudulent incorporation: an analysis of the piercing principle." Northern Ireland Legal Quarterly 66, no. 4 (August 17, 2018): 321–241. http://dx.doi.org/10.53386/nilq.v66i4.157.

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Following two recent decisions of the Supreme Court it has been confirmed that the ability to disturb corporate personality by piercing the corporate veil is as an established principle but one that should be used only as a tool of last resort. In ractice the deployment of this ‘piercing principle’ will be a rarity to the point of near extinction. This paper will contend, however, that the Supreme Court’s endorsement of a limited piercing principle does not address fully the commercial necessity of disturbing the corporate personality of companies incorporated to pursue a fraudulent activity; further, that this lacuna could have been averted had the Supreme Court identified a related but broader ‘piercing concept’ which is establishedimpliedly in the case law.

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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 CommissionersKeywordsâ€”: Pierching the Corporate Veilâ€™s Principles; Responsibility; Directors; Commissioners; Bankruptcy.

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Grier, Nicholas. "Piercing the Corporate Veil: Prest v Petrodel Resources Ltd." Edinburgh Law Review 18, no. 2 (May 2014): 275–79. http://dx.doi.org/10.3366/elr.2014.0212.

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Lemmens, Trudo. "Piercing the Veil of Corporate Secrecy about Clinical Trials." Hastings Center Report 34, no. 5 (September 2004): 14. http://dx.doi.org/10.2307/3527585.

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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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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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Nwafor, Anthony O. "Piercing the corporate veil: An incursion into the judicial conundrum." Corporate Board role duties and composition 11, no. 3 (2015): 136–52. http://dx.doi.org/10.22495/cbv11i3art11.

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Once a company is incorporated, it enjoys, by the power of the law, a personality which is distinct from those of the incorporators. This invariably implies that those running the affairs of the company do not incur personal liability in the course of doing so. The same legal might which forms the basis for corporate existence also regulates its purpose to afford protection to those dealing with the company by ensuring that the controllers of those corporations do not use them to pursue improper personal agenda. The courts have shown the willingness to disregard the corporate entity and impose personal liabilities on the controllers when such improprieties occur. The paper examines the judicial authorities especially in South Africa and the United Kingdom. They reveal a significant level of inconsistencies in the exercise of this equitable power of the court. The paper further examines the recent legislative intervention in South Africa and argues that unless specific guidelines are provided by parliament on when the corporate veil could be pierced, the courts will continue to address this issue as a matter of judicial discretion and which is at the root of the inconsistent and conflicting judicial pronouncements in this vital area of corporate governance.

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Alcock, Alistair. "PIERCING THE VEIL – A DODO OF A DOCTRINE?" Denning Law Journal 25, no. 1 (October 11, 2013): 241–54. http://dx.doi.org/10.5750/dlj.v25i1.785.

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In the course of the 2012/13 legal year, the Supreme Court has had to consider the doctrine of piercing the corporate veil twice, in VTB Capital plc v Nutritek International Corpn (VTB), and more recently in Prest v Petrodel Resources Ltd (Prest). On both occasions, the Court was in effect asked to remove the whole doctrine from English Law, but narrowly failed to do so, begging the question, does the doctrine really serve any purpose now? Let me start with Prest.

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Myshyakov, Sergey V. "The Use of Piercing Corporate Veil Doctrine in the Russian Civil Law." Civil law 6 (December 17, 2020): 28–31. http://dx.doi.org/10.18572/2070-2140-2020-6-28-31.

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The article analyzes the problems of application of the doctrine of “Piercing the corporate veil” in the Russian civil law. The article deals with the emergence and formation of the principle of limited liability and its relationship with this doctrine, analyzes the legal institutions that lead to the removal of the “corporate shield”.

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Spotorno, Agustin Ricardo. "Piercing the Corporate Veil in the UK: The Never-Ending Mess." Business Law Review 39, Issue 4 (August 1, 2018): 102–9. http://dx.doi.org/10.54648/bula2018019.

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Predictability and certainty are the distinctive features of English law as one of the leading choices to govern commercial contracts worldwide. Unfortunately, an area which cannot be praised for that is the ‘Doctrine of Piercing the Corporate Veil’. This doctrine and its yet unresolved issues have been threatening nothing less than two cornerstone principles for commerce and modern economy: the separate corporate personality and limited liability. After many frustrated attempts to cast light on this field, the UK Supreme Court justices in Petrodel Resources Ltd v. Prest tried once again to provide clarity by circumscribing the doctrine to excessive narrow limits. However, by ‘piercing’ that apparent veil of clarity and by analysing three subsequent rulings this article demonstrates that the confusion underlying the decision has indeed aggravated the mess, paving the way to the emergence of an ‘unnamed’ and ‘unrestricted’ doctrine now spread among conventional remedies.

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Lo, Stefan HC. "Piercing of the corporate veil for evasion of tort obligations." Common Law World Review 46, no. 1 (March 2017): 42–60. http://dx.doi.org/10.1177/1473779516682195.

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Rządkowski, Michał. "„Piercing the Corporate Veil Doctrine in Poland?” A Comparative Perspective." Comparative Law Review 20 (October 13, 2016): 55. http://dx.doi.org/10.12775/clr.2015.011.

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Yu, Kimberly Bin, and Richard Krever. "The High Frequency of Piercing the Corporate Veil in China." Asia Pacific Law Review 23, no. 2 (January 2015): 63–87. http://dx.doi.org/10.1080/10192557.2015.11745936.

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Kondrateva, Ksenya S., and Ilya A. Sterlyagov. "Perspectives in Applying the Doctrine of “Piercing the Corporate Veil” in Cases of Subsidiary Liability of Persons Controlling the Debtor in the Russian Federation: A Comparative Legal Approach." Vestnik Tomskogo gosudarstvennogo universiteta, no. 462 (2021): 224–31. http://dx.doi.org/10.17223/15617793/462/27.

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The article discusses the issue of the formation of the doctrine of “piercing the corporate veil” in various legal systems in order to determine the possibility of its application when bringing persons controlling the debtor to subsidiary liability in case of insolvency (bankruptcy) in Russia. In the study, general and specific methods of cognition were used: retrospective, historical, logical, and comparative legal. Methods of logical analysis and dialectics were applied, which together with the seeming contradictions of a significant number of scholarly views allow concluding about their unity and constructiveness. It has been established that, in order to use the “piercing” doctrine as a procedural tool to ignore the property isolation of a legal entity, the courts conduct multi-stage tests to justify the need for such use and prove the exclusivity of the case in question. The importance of the legislative introduction of the concept “person controlling the debtor” is noted in connection with the use of corporate structures and forms of informal control, as well as clear criteria for control and circumstances that presume harm to creditors. Based on the analysis of judicial practice, conclusions were drawn about the main ways of abuse of rights when using corporate governance. The question of the possibility of including the claims of participants (shareholders), company managers and interested parties in the register of claims of the debtor’s creditors is problematic in judicial practice. It is concluded that, due to being in the same legal family, the approach of German law enforcement officers to piercing the corporate veil, better known as responsibility for “destructive interference” in the affairs of society, and to recovering damage caused to creditors under the current legislation is close to Russian law. In this connection, the practice of applying the doctrine in Germany can be regarded as a useful experience for Russian law. Taking into account the precedent legal nature of the doctrine of “piercing the corporate veil”, the authors come to the conclusion that it is impossible to borrow it by domestic law. At the same time, Russian law, the main source of which is normative legal acts, if necessary, selects current trends in ways of solving problems that meet the needs of society and the legal community.

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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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Dąbroś, Mateusz. "Odpowiedzialność przebijająca w ramach private enforcement." internetowy Kwartalnik Antymonopolowy i Regulacyjny 9, no. 3 (2020): 21–32. http://dx.doi.org/10.7172/2299-5749.ikar.3.9.2.

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In the context of private enforcement of competition law, the issue of piercing the corporate veil, that is, the possibility of holding a non-direct infringer liable becomes particularly important. Pursuant to the thesis of the CJEU ‘Skanska’ judgment, civil courts adjudicating in cases of damages for infringements of competition law should understand the concept of ‘undertaking’ in accordance with Article 101 TFEU and its established interpretation by the Court, which may mean also adopting, under private law, the doctrine of economic succession (economic continuity) and the concept of a single economic unit. Individual member states, such as Spain and Portugal, have already adopted relevant legal regulations regarding the issue in question. In other countries, this matter has become the subject of judicial considerations. In Poland, neither of these two situations occurs. One should opt for the broad adoption of the concept of piercing the corporate veil in the context of liability for damages arising from an infringement of competition law – with both EU and national dimension.

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Mandal, Rudresh, and Debanjan Mandal. "Developing a Framework for Adjudication in a Phoenix Insolvency Situation: Can the Enterprise Theory Offer a Viable Solution?" Business Law Review 39, Issue 3 (June 1, 2018): 64–70. http://dx.doi.org/10.54648/bula2018013.

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Using the much debated concept of piercing of the corporate veil, this article seeks to address the relatively unexplored problem of phoenix companies in Indian insolvency law. Following the recent insertion of section 29A into the Insolvency and Bankruptcy Code, 2016, the question of phoenixing has begun to emerge at the forefront of academic discussion. Drawing heavily upon English, Australian and US discourse, the authors attempt to outline an alternative approach to curb the practice of phoenixing. Section 2 of this article engages in profiling a phoenixing company using English, Australian and Indian Committee reports – defining a phoenix company, differentiating between legitimate and illegitimate forms of phoenixing and outlining the hazards of phoenixing. Section 3 goes on to examine the applicability of the ‘mere continuation/continuation of enterprise theory’ to phoenix companies culminating in piercing the corporate veil of the successor company. Finally, the article concludes by acknowledging the sophisticated nature of phoenix companies, and recognizes the need for a dynamic response to this practice.

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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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Sjåfjell, Beate. "Environmental Piercing of the Corporate Veil: The Norwegian Supreme Court Decision in the Hempel Case." European Company Law 7, Issue 4 (August 1, 2010): 154–60. http://dx.doi.org/10.54648/eucl2010029.

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In its judgment of 10 March 2010 in the Hempel case, the Norwegian Supreme Court rendered an important decision on the responsibility for pollution after decades of manufacturing of ship paint and plastic and related waste disposal against the background of the doctrine of piercing of the corporate veil.

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45

Neyers, Jason W. "Canadian Corporate Law, Veil-Piercing, and the Private Law Model Corporation." University of Toronto Law Journal 50, no. 2 (2000): 173. http://dx.doi.org/10.2307/825991.

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이창재. "Piercing the Corporate Veil by Enterprise Liability Theory in Maritime Attachment." SungKyunKwan Law Review 27, no. 2 (June 2015): 237–63. http://dx.doi.org/10.17008/skklr.2015.27.2.009.

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Wu, Mark. "Piercing China's Corporate Veil: Open Questions from the New Company Law." Yale Law Journal 117, no. 2 (November 1, 2007): 329. http://dx.doi.org/10.2307/20455793.

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Clark, Gordon L. "Piercing the Corporate Veil: The Closure of Wisconsin Steel in South Chicago." Regional Studies 24, no. 5 (October 1990): 405–20. http://dx.doi.org/10.1080/00343409012331346094.

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Al-Tawil, Tareq Na’el. "Piercing the corporate veil: when LLCs and corporations may be at risk." International Journal of Law and Management 61, no. 2 (April 4, 2019): 328–44. http://dx.doi.org/10.1108/ijlma-07-2018-0140.

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Purpose The purpose of this paper is to examine the available judicial precedence using both the United Arab Emirates and UK laws to bring up a much broader understanding of wrongful and fraudulent trading concepts and provide a critical analysis of potential personal liabilities of directors in the UK and UAE jurisdictions for the acts of fraud and mismanagement. Design/methodology/approach This paper seeks to understand corporate fraud from the aspect of trading. It will take an in-depth look into wrongful trading and fraudulent trading in the UAE and UK jurisdictions while analyzing the punishment for the same. The study will also look at famous cases for the same while seeking to understand the mitigation measures undertaken in various nations across the world. Findings The author studies the contents and provisions of the UK Insolvency Act 1986, truly the concepts of wrongful trading and fraudulent trading are not explicitly mentioned in the UAE Law, but the said terms associated with “lifting of corporate veil” are notionally existent under the UAE Federal Law No2/2015, otherwise known as Companies Law (Articles 84 and 162-1), and under the UAE Bankruptcy Law (Federal Decree Law No. 9 of 2016), which provides legislation governing trading while the company is insolvent. Originality/value In the current paper, the author is keen to examine the available judicial precedence to bring up a much broader understanding of the mentioned concepts and provide a critical analysis of potential personal liabilities of directors in the UK and UAE jurisdictions for the acts of fraud and mismanagement.

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Burnosenkova, I. A. "THE DOCTRINE OF «PIERCING THE CORPORATE VEIL» AND THE LEGISLATION OF UKRAINE." State and Regions. Series: Law 2, no. 3 (2020): 153–58. http://dx.doi.org/10.32840/1813-338x-2020.3.2.26.

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