3. Lifting the veil

2016 ◽  
Author(s):  
Alan Dignam ◽  
John Lowry
Keyword(s):  
Limited Liability ◽  
Parent Company ◽  
Personal Injury ◽  
Costs And Benefits ◽  
Corporate Group ◽  
The Core ◽  
The Subject ◽  
The Veil ◽  
Group Structures ◽  
Corporate Personality

Titles in the Core Text series take the reader straight to the heart of the subject, providing focused, concise, and reliable guides for students at all levels. This chapter discusses ‘lifting the veil’, a phrase that refers to situations where the judiciary or the legislature have decided that the separation of corporate personality from the members must not be maintained. In this case, the veil of incorporation is said to be lifted. ‘Lifting’ is also known as ‘peeping’, ‘penetrating’, ‘piercing’, or ‘parting’. The chapter presents statutory examples of veil lifting, many of which involve corporate group structures and others involve straightforward shareholder limitation of liability issues. It also considers cases of veil lifting by the courts as well as classical veil lifting during the periods of 1897 to 1966, 1966 to 1989, and 1989 to the present. Three cases are highlighted: Creasey v Breachwood Motors Ltd (1993), Ord v Belhaven Pubs Ltd (1998), and Trustor AB v Smallbone (No 2) (2001). The chapter also examines claims of tortious liability, the liability of a parent company for personal injury, and commercial tort. Finally, it looks at the costs and benefits of limited liability.

3. Lifting the veil

2018 ◽  
Author(s):  
Alan Dignam ◽  
John Lowry
Keyword(s):  
Limited Liability ◽  
Parent Company ◽  
Personal Injury ◽  
Costs And Benefits ◽  
Corporate Group ◽  
The Core ◽  
The Subject ◽  
The Veil ◽  
Group Structures ◽  
Corporate Personality

Titles in the Core Text series take the reader straight to the heart of the subject, providing focused, concise, and reliable guides for students at all levels. This chapter discusses ‘lifting the veil’, a phrase that refers to situations where the judiciary or the legislature have decided that the separation of corporate personality from the members must not be maintained. In this case, the veil of incorporation is said to be lifted. ‘Lifting’ is also known as ‘peeping’, ‘penetrating’, ‘piercing’, or ‘parting’. The chapter presents statutory examples of veil lifting, many of which involve corporate group structures and others involve straightforward shareholder limitation of liability issues. It also considers cases of veil lifting by the courts as well as classical veil lifting during the periods of 1897 to 1966, 1966 to 1989, and 1989 to the present. Three cases are highlighted: Adams v Cape Industries (1990), Chandler v Cape Plc (2012), and Prest v Petrodel Industries Ltd (2013). The chapter also examines claims of tortious liability, the liability of a parent company for personal injury, and commercial tort. Finally, it looks at the costs and benefits of limited liability.

3. Lifting the veil

Company Law ◽  
2020 ◽  
pp. 29-50
Author(s):  
Alan Dignam ◽  
John Lowry
Keyword(s):  
Limited Liability ◽  
Recent Case ◽  
Personal Injury ◽  
Costs And Benefits ◽  
The Core ◽  
The Subject ◽  
The Veil ◽  
Group Structures ◽  
Case Development ◽  
Corporate Personality

Titles in the Core Text series take the reader straight to the heart of the subject, providing focused, concise, and reliable guides for students at all levels. This chapter discusses ‘lifting the veil’, a phrase that refers to situations where the judiciary or the legislature have decided that the separation of corporate personality from the members must not be maintained. In this case, the veil of incorporation is said to be lifted. ‘Lifting’ is also known as ‘peeping’, ‘penetrating’, ‘piercing’, or ‘parting’. The chapter presents statutory examples of veil lifting, many of which involve corporate group structures and others involve straightforward shareholder limitation of liability issues. It also considers cases of veil lifting by the courts as well as classical veil lifting during the periods of 1897 to 1966, 1966 to 1989, and 1989 to the present. Three cases are highlighted: Adams v Cape Industries (1990), Chandler v Cape Plc (2012), and Prest v Petrodel Industries Ltd (2013) as well as important recent case development. The chapter also examines claims of tortious liability, the liability of a parent company for personal injury, and commercial tort. Finally, it looks at the costs and benefits of limited liability.

2. Corporate personality and limited liability

Company Law ◽  
2020 ◽  
pp. 14-28
Author(s):  
Alan Dignam ◽  
John Lowry
Keyword(s):  
Small Businesses ◽  
Limited Liability ◽  
Company Law ◽  
Historical Background ◽  
The Core ◽  
Corporate Form ◽  
The Subject ◽  
Corporate Personality ◽  
Over Time

Titles in the Core Text series take the reader straight to the heart of the subject, providing focused, concise, and reliable guides for students at all levels. This chapter deals with corporate personality and limited liability, two concepts that form the core of company law. It begins with a short historical background on how the process of corporatisation through charters evolved over time, including the emergence of the use of trust as an instrument to confer many of the privileges of incorporation. It then considers the case Salomon v Salomon & Co (1897) which decided on the legitimacy of small businesses with a corporate form, and offers some other good examples of the consequence of separate personality. The chapter also discusses the rights of members and shareholders with respect to ownership of the corporation, focusing on dispersed shareholdings and close companies.

Parent company liability for asbestos claims: some international insights

Legal Studies ◽  
2011 ◽  
Vol 31 (4) ◽  
pp. 547-569 ◽  
Author(s):  
Helen Anderson
Keyword(s):  
Advisory Committee ◽  
Group Structure ◽  
Limited Liability ◽  
Parent Company ◽  
Personal Injury ◽  
Long Tail ◽  
Corporate Group ◽  
Special Commission ◽  
The World ◽  
A Company

Throughout the world, the corporate group structure has long proved troublesome to the creditors, and particularly the tort creditors, of undercapitalised subsidiary companies. In the wake of Australia's James Hardie asbestos compensation inquiry, Senior Counsel assisting the Jackson Special Commission, Mr John Sheahan QC, called for the Commission to ‘recommend reform of the Corporations Act so as to restrict the application of the limited liability principle as regards liability for damages for personal injury or death caused by a company that is part of a corporate group...’. Following this call, in May 2008 the Corporations and Markets Advisory Committee released a report on long-tail liabilities, making various recommendations for reform. Separately, legislation was passed making pooling available for insolvent group companies in Australia. This paper examines the long-tail liability suggestions and the 2007 pooling amendments. It will be argued that neither of these is adequate for the proper protection of tort creditors of insolvent subsidiaries. It then considers international alternatives which might satisfy Mr Sheahan's appeal for reform.

2. Corporate personality and limited liability

2018 ◽  
Author(s):  
Alan Dignam ◽  
John Lowry
Keyword(s):  
Small Businesses ◽  
Limited Liability ◽  
Company Law ◽  
Historical Background ◽  
The Core ◽  
Corporate Form ◽  
The Subject ◽  
Corporate Personality ◽  
Over Time

Titles in the Core Text series take the reader straight to the heart of the subject, providing focused, concise, and reliable guides for students at all levels. This chapter deals with corporate personality and limited liability, two concepts that form the core of company law. It begins with a short historical background on how the process of corporatisation through charters evolved over time, including the emergence of the use of trust as an instrument to confer many of the privileges of incorporation. It then considers the case Salomon v Salomon & Co (1897) which decided on the legitimacy of small businesses with a corporate form, and offers some other good examples of the consequence of separate personality. The chapter also discusses the rights of members and shareholders with respect to ownership of the corporation, focusing on dispersed shareholdings and close companies.

2. Corporate personality and limited liability

2016 ◽  
Author(s):  
Alan Dignam ◽  
John Lowry
Keyword(s):  
Small Businesses ◽  
Limited Liability ◽  
Company Law ◽  
Historical Background ◽  
The Core ◽  
Corporate Form ◽  
The Subject ◽  
Corporate Personality ◽  
Over Time

Titles in the Core Text series take the reader straight to the heart of the subject, providing focused, concise, and reliable guides for students at all levels. This chapter deals with corporate personality and limited liability, two concepts that form the core of company law. It begins with a short historical background on how the process of corporatisation through charters evolved over time, including the emergence of the use of trust as an instrument to confer many of the privileges of incorporation. It then considers the case Salomon v Salomon & Co (1897) which decided on the legitimacy of small businesses with a corporate form, and offers some other good examples of the consequence of separate personality. The chapter also discusses the rights of members and shareholders with respect to ownership of the corporation, focusing on dispersed shareholdings and close companies.

2. Companies and Corporate Personality

2020 ◽  
pp. 4-32
Author(s):  
Imogen Moore
Keyword(s):  
Limited Liability ◽  
Legal Person ◽  
Public And Private ◽  
Questions And Answers ◽  
The Veil ◽  
Legal Forms ◽  
The Uk ◽  
A Company ◽  
Corporate Personality

The Concentrate Questions and Answers series offers the best preparation for tackling exam questions and coursework. Each book includes typical questions, suggested answers with commentary, illustrative diagrams, guidance on how to develop your answer, suggestions for further reading, and advice on exams and coursework. This chapter considers the main legal forms used for businesses in the UK—particularly sole traders, general partnerships, limited liability partnerships (LLPs), and companies (public and private). It then examines how registered companies limited by shares come into existence. On registration a company becomes a legal person, separate from its shareholders and directors. This chapter explores this ‘corporate personality’ and the popular topic of when the ‘veil of incorporation’ can be lifted or pierced by statute or the courts.

3. Negligent harm to the person: general considerations

2013 ◽  
Author(s):  
Steve Hedley ◽  
Nicola Padfield
Keyword(s):  
Personal Injury ◽  
The Core ◽  
General Rules ◽  
The Subject ◽  
Breach Of Duty ◽  
Nervous Shock

Titles in the Core Text series take the reader straight to the heart of the subject, providing focused, concise, and reliable guides for students at all levels. This chapter deals with negligence as it relates to claimants who have suffered personal injury. It discusses the general rules on establishing duty and breach of duty. It then describes the system of recovery for injuries in negligence. It also considers special categories of claimant: those who suffer nervous shock, those complaining of negligence in relation to birth, and rescuers.

2. Companies and Corporate Personality

2016 ◽  
Author(s):  
Imogen Moore
Keyword(s):  
Limited Liability ◽  
Legal Person ◽  
Questions And Answers ◽  
The Veil ◽  
Legal Forms ◽  
The Uk ◽  
A Company ◽  
Corporate Personality

The Concentrate Questions and Answers series offers the best preparation for tackling exam questions and coursework. Each book includes typical questions, suggested answers with commentary, illustrative diagrams, guidance on how to develop your answer, suggestions for further reading, and advice on exams and coursework. This chapter considers the main legal forms used for businesses in the UK— particularly sole traders, general partnerships, limited liability partnerships (LLPs) and companies. It then examines how registered companies limited by shares come into existence. On registration a company becomes a legal person, separate from its shareholders and directors. This chapter explores this ‘corporate personality’ and the popular topic of when the ‘veil of incorporation’ can be lifted or pierced by statute or the courts.

2. Companies and Corporate Personality

2018 ◽  
Author(s):  
Imogen Moore
Keyword(s):  
Limited Liability ◽  
Legal Person ◽  
Questions And Answers ◽  
The Veil ◽  
Legal Forms ◽  
The Uk ◽  
A Company ◽  
Corporate Personality

The Concentrate Questions and Answers series offers the best preparation for tackling exam questions and coursework. Each book includes typical questions, suggested answers with commentary, illustrative diagrams, guidance on how to develop your answer, suggestions for further reading, and advice on exams and coursework. This chapter considers the main legal forms used for businesses in the UK— particularly sole traders, general partnerships, limited liability partnerships (LLPs), and companies. It then examines how registered companies limited by shares come into existence. On registration a company becomes a legal person, separate from its shareholders and directors. This chapter explores this ‘corporate personality’ and the popular topic of when the ‘veil of incorporation’ can be lifted or pierced by statute or the courts.

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