What does Piercing the Corporate Veil mean?
A legal action in which courts ignore the limited liability of a corporation and hold its shareholders or directors personally liable for the corporation's actions or debts.
The court allowed piercing the corporate veil to hold the owner personally liable after finding he used the company's bank account for personal expenses.
Piercing the Corporate Veil in German, French, Spanish and Italian
GermanDurchgriffshaftung
Ausnahmsweise Durchbrechung der beschränkten Haftung einer Kapitalgesellschaft.
FrenchLevée du voile corporatif
Action en justice visant à lever l'immunité des actionnaires pour les dettes de la société.
SpanishLevantamiento del velo societario
Doctrina que permite ignorar la personalidad jurídica para evitar fraudes.
ItalianSuperamento della personalità giuridica
Rimozione della protezione della responsabilità limitata in casi di abuso della società.
Synonyms and opposites for Piercing the Corporate Veil
- Synonym Disregarding corporate entity
- Opposite Limited liability