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A legal concept that separates the personality of a corporation from the personalities of its shareholders, and protects them from being personally liable for the company's debts and other obligations. This protection is not ironclad or impenetrable. Where a court determines that a company's business was not conducted in accordance with the provisions of corporate legislation (or that it was just a facade for illegal activities) it may hold the shareholders personally liable for the company's obligations under the legal concept of lifting the corporate veil.
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What does pierce the veil mean?
The phrase means to reveal something that is hidden.
What does the black veil bride symbol mean?
When a nun marries into the church she wears a black veil
What does the song fallen angels mine by black veil brides?
Do you mean: what does the song fallen angels mean by black veil brides? If so then it's all about being out-casted from society and not fitting in because of the way you dress and the music you listen to etc
Who is Sandra Black?
Do You Mean Sandra Alvarenga? She Was The Drummer In Black Veil Brides In The Past:3
When did Veil of Darkness happen?
Veil of Darkness happened in 1993.
The doctrines of-Lifting Piercing the Corporate Veil Ultra Vires?
Explain and illustrate the doctrines of Liftin/ Piercing the corporate Veil Ultra Vires
How do you use Piercing the corporate veil in a sentence?
the brides veil is drggind down on the foor
Do Piercing the corporate veil means revealing to shareholders the internal rules of corporate management?
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Under what circumstances a court may hold shareholders liable for debt of a corporation?
When they personally guarantee corporate obligations or the corporate veil is pierced as a result of the shareholders failing to recognize corporate formalities and treat corporate assets as their own.
For the earth too had on her black veil What does this mean?
The earth's veil conceals sin the people have and the veil it self is society.
What does the name DUVAK mean?
veil
Under which circumstances are the courts of Zimbabwe likely to lift the corporate veil of incorporation?
there are two circumstances under which the zimbabwean courts can lift the corporate veil. the first form is judicial evasion and he other one is statutory evasion.JUDICIAL EVASIONthis takes tree forms which is:when there is an abuse of the the seperate corporate personalitywhen the principle of separate legal personality runs contrary to the state intrestsapplication of the agency of construction
What mean of corporate and institute sales?
what mean of corporate and institute sales
Kenyas caselaw on piercing the corporate veil?
Piercing the corporate veil is when a company is shown to be corrupt, and engaged in injurious activities. This was the case of a Kenyan Pipeline Company explosion and fire that killed 120 people, and injured hundreds of others. The company was found to be grossly negligent in their operations, an a subsequent lawsuit was filed by victims and their families.
What is the procedure for an executive for lifting a corporate veil?
Executives don't nessasarilarly have any corporate authority (authority to bind the corp). Officers of the corporation in pursuit of their duties to it do. Anything the executive does personnally, or signs for personally not as an officer of the corporation, doesn't have corporate protection...it is done indivdually. Anything the corporation does for itself has corporate protection.
What does corporate client mean?
Corporate client mean those connect with that company or similar.
What is Reverse piercing of corporate veil?
Reverse piercing the corporate veil is the act holding a shareholder personally liable for the debts of the corporation and then (when taking his assets as damages) reaching into the assets of other corporations to which he is a shareholder. Normally when a corporation takes on too much debt and the creditors want their money, it goes insolvent (bankrupt). However, if the corporate formalities have not been observed (there was commingling of personal and corporate funds, there was a failure to maintain the corporate records, etc.) and adhering to the limited liability rules of corporations would promote injustice, a creditor can "pierce the corporate veil" and reach past the limited liability into the personal assets of the shareholder(s). However, if the personal assets of the shareholders are mostly stock in other corporations that have also taken too much debt, this doesn't help much (because the stocks wouldn't be worth much on the market and dissolving those other corporations means their assets would be paid to creditors before they can be distributed to the shareholders). In that situation, the court can "reverse pierce the corporate veil" and take the assets of the other corporations, bypassing the line of creditors.
