Tag Archives: Veil

Can an LLC judgment creditor “pierce the corporate veil” and hold a Chapter 7 debtor personally liable for that debt?

It depends on the facts and circumstances of each case. An Oklahoma bankruptcy court held that a judgment creditor could not pierce the corporate veil under Oklahoma law to hold the Chapter 7 debtor personally liable, as the sole owner … Continue reading

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Corporate Veil Pierced Where Owner was Sloppy with Finances

It is generally advisable for business owners to form a separate legal entity to limit personal liability stemming from business contracts or torts. Incorporating or organizing as an LLC can limit owners’ personal liability to the extent of their investments. … Continue reading

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Revisiting “Sham” as a Ground for Piercing the Corporate Veil

[Ashwin Murthy and Sathvik Chandrasekhar are 4th year students from NALSAR University of Law] The doctrine of piercing the corporate veil was clarified in India with the landmark case of Balwant Rai Saluja v Air India (2013), recognising that the veil should rarely … Continue reading

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Third Circuit Veil Piercing Decision in Indagro SA v. Nilva

US Third Circuit Senior Judge Jane Richards Roth issued a bizarre pronouncement in a recent veil piercing opinion: … it is unclear that merely using a corporation to limit personal liability rises… [[ This is a content summary only. Visit … Continue reading

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Case Notes: Piercing the Corporate Veil – Traditionally and Reverse Piercing

Rector, Executor of Est. of James Calvert vs. Calvert, Executrix of Est of James Calvert COA Not Published (6/1/2018) Reverse piercing of the corporate veil was raised in this appeal.  To reach that issue, traditional piercing was examined.  Here are … Continue reading

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