Search results with tag "The corporate veil"
LIFTING, PIERCING AND SIDESTEPPING THE CORPORATE VEIL
www.guildhallchambers.co.ukcorporate veil truly existed, he summarised the position of the law at paragraph 27 as follows: “In my view, the principle that the court may be justified in piercing the corporate veil if a company's separate legal personality is being abused for the purpose of some relevant wrongdoing is well established in the authorities.
Piercing the Corporate Veil - The Georgia Society of CPAs
gscpa.orgC. Piercing the corporate veil is an equitable doctrine that is only appropriate when there are no other adequate remedies at law. Courts are hesitant to ... Reverse Veil Piercing A. Concept: The corporate veil is disregarded so its assets can be used to satisfy the debt of its owners. V. Practical Tips
Company Law Lifting of Corporate Veil
dspace.jgu.edu.inCompany Law Lifting of Corporate Veil _____ _____ - 1 - INTRODUCTION When a company is incorporated it is treated as a separate legal entity distinct from its promoters, directors, members, and employees; and hence the concept of the corporate veil, separating those parties from the body, has arisen. The issue of "corporatelifting the
Reverse Piercing of the Corporate Veil: A Straightforward ...
tollefsenlaw.comThe practice of reverse piercing the corporate veil is less well established.9 Where it is available, both corporate insiders and outside third parties have the opportunity to reverse pierce the corporate veil.10 In outside reverse pierc-ing, a third-party creditor seeks to recover debts owed by
IRC 7701 - GENERAL DISCUSSION By Toussaint ... - IRS tax …
www.irs.govIn any event, if the corporate law of the State will recognize the corporation, the Service will rarely pierce the corporate veil, i.e., look beyond the corporate shell. There are some statutory exceptions to this principle. In the exempt organizations area, some examples are found in chapter 42 (private foundation excise taxes). Thus,
JUDGMENT Prest (Appellant) v Petrodel Resources Limited ...
www.supremecourt.ukthe corporate veil was available under section 24 of the Matrimonial Causes Act. The judge found that the matrimonial home was held by PRL on trust for the husband, but he made no corresponding finding about the seven other properties and refused to make a declaration that the husband was their beneficial owner. It is
Section 501(c)(3) Tax-Exempt Entities Forming Affiliations ...
www.probonopartner.orgV. Liability Exposure and Piercing the Corporate Veil..... 17 VI. Single Employer Determination under ... able to “pierce the corporate veil” of the parent entity. In Section VI, we summarize the different approaches of the National Labor Relations Board (“NLRB”) and the courts under the federal employment law concept of a “single ...
ABLE OF CONTENT S - Robert H. McKinney School of Law ...
mckinneylaw.iu.eduThis Article examines piercing the corporate veil of a subsidiary to make its parent corporation liable for the subsidiary’s obligations. More particularly, it focuses on what many of the cases seem to desig nate as the key com pone nt in the formulas for deciding whether to pierce the corporate veil…
When Are Directors Personally liable for Corporate …
www.sid.org.sg191 WhEn ARE DIRECTORS PERSOnAlly lIABlE fOR CORPORATE DEBT? Another example of the corporate veil being lifted is where the company’s controller is regarded as its “alter-ego” in that the
Act 1 Companies Act 2012 - ebiz.go.ug
www.ebiz.go.ug20. Lifting the corporate veil. 21. Effect of memorandum and articles. 22. Conclusiveness of certificate of incorporation. 23. Re-registration of unlimited company as limited. 24. Re-registration of private company as a public company. 25. Consideration for shares recently allotted to be valued. 26. Additional requirements relating to share ...
The Qualified Subchapter S Subsidiary Election ... - Foster
www.foster.comAssuming corporate formal-ities are adhered to, the corporate veil should help taxpayers insulate them - selves from liabilities associated with different business activities.16 Potential Planning Under Section 1374. Section 1374 imposes a …