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Lifting of the corporate veil

Asked Oct 7, 2006, 11:09 AM — 2 Answers
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

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wizzkid89's Avatar
wizzkid89 Posts: 272, Reputation: 330
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#2

Oct 18, 2006, 12:28 AM
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.
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LisaB4657's Avatar
LisaB4657 Posts: 3,500, Reputation: 2617
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#3

Oct 18, 2006, 05:42 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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