Piercing the Corporate Veil

July 16th, 2009 |

Author: 1203Broadway

Phrase referring to a court’s refusal to grant immunity to corporate shareholder, officers or entities for their wrongful acts. Courts will do so when, among other instances, the corporation is engaged in fraud, or has not operated with the requisite corporate formalities (such as not commingling funds of the corporation and its shareholders, directors or officers).

Posted in Business Law, Terminology

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