Company law piercing the corporate veil

A court will pierce the veil only if a failure to do so will result in an injustice.
This requires more than evidence that a creditor will not get paid.
It requires evidence that the corporation or LLC was used in some way to perpetrate a fraud or accomplish some other wrongful purpose.
Evidence of inequitable results
A court will pierce the veil only if a failure to do so will result in an injustice.
This requires more than evidence that a creditor will not get paid.
It requires evidence that the corporation or LLC was used in some way to perpetrate a fraud or accomplish some other wrongful purpose.
Piercing the veil, also known as "piercing the corporate veil" refers to a situation in which courts put aside limited liability and hold a corporation's shareholders or directors personally liable for the corporation's actions or debts.
Veil piercing is most common in close corporations.

"Piercing the corporate veil" is a legal phrase that describes the owners of a corporation losing the limited liability that having a corporation provides them. When this happens, the owners' personal assets can be used to satisfy business debts and liabilities.

"Piercing the corporate veil" refers to a situation in which courts put aside limited liability and hold a corporation's shareholders or directors personally liable for the corporation's actions or debts. Veil piercing is most common in close corporations.

"Piercing the corporate veil" refers to a situation in which courts put aside limited liability and hold a corporation's shareholders or directors personally

Piercing the corporate veil or lifting the corporate veil is a legal decision to treat the rights or duties of a corporation as the rights or liabilities of its shareholders. Usually a corporation is treated as a separate legal person, which is solely responsible for the debts it incurs and the sole beneficiary of the credit ..."Piercing the corporate veil" refers to a situation in which courts put aside limited liability and hold a corporation's shareholders or directors personally liable for the corporation’s actions or debts. Veil piercing is most common in close corporations. While the law varies by state, generally courts have a strong ...Piercing the corporate veil is when the courts ignore the "corporate veil" placed on an LLC or corporation. A corporate veil is when a business is incorporated so that its owners, shareholders, and employees will not be held personally responsible if the business can't pay its debts. A corporate veil is also known as limited ...Piercing the corporate veil occurs when a court decides that a company acted in a way that puts the personal liability of the members or owners at risk. In this case, the court disregards the corporate structure. Without the “veil” (corporate structure) in place, personal liability protection goes away.Piercing the corporate veil means that a court puts aside the limited liability protection of a business to hold the directors or shareholders personally responsible for actions or debts. As you might imagine, courts are generally reluctant to do this, and are only likely to pierce the corporate veil in cases where there has ...