Lifting of the corporate veil

Mmm20 · #1 Oct 7, 2006, 10:09 AM

Hi

I've just started the company law subject this semester, i did not understand the "lifting of the corporate veil". Can you give me a detailed explanation on this matter.

Regards MMM20

wizzkid89 · Oct 17, 2006, 11:28 PM

Is this a book or is this just a phrase, because the phrase most likely means seeing behind the facade that corporate america tries to pull over the american consumers.

LisaB4657 · Oct 18, 2006, 04:42 AM

Lifting of the corporate veil is a legal term where the court allows a lawsuit or prosecution to proceed against the individual shareholders/directors of a corporation instead of allowing them to be protected from individual liability due to their corporate status.



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