Piercing the corporate veil or lifting the corporate veil is a legal decision to treat the rights or duties of a corporation as the rights or liabilities of its shareholders usually a corporation is treated as a separate legal person which is solely responsible for the debts it incurs and the sole beneficiary of the credit it is owed. Piercing the corporate veil european company law series karen vandekerckhove on amazoncom free shipping on qualifying offers when courts pierce the corporate veil they disregard the separateness of the corporation and hold a shareholder responsible for the corporations action as if it were the shareholders own. 4 piercing the corporate veil construct a series of legal firewalls among the companies to ensure that there is no inappropriate transfer of assets from one entity to another. 1 texas law on piercing corporate veildoc the law in texas regarding piercing the corporate veil section 1 an overview of the corporate veil the texas corporation like the corporation in every other state is a creature of. The law of piercing the corporate veil a fundamental principle of corporate law is that shareholders in a corporation are not liable for the obligations of the enterprise be
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