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Piercing The Corporate Veil
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. Common law countries usually uphold this principle of separate personhood, but in exceptional situations may "pierce" or "lift" the corporate veil. A simple example would be where a businessperson has left their job as a director and has signed a contract to not compete with the company they have just left for a period of time. If they set up a company which competed with their former company, technically it would be the company and not the person competing. But it is likely a court would say that the new company was just a "sham" or a "cover" and that, as the new company is completely owned and controlled by one person, the former employee i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Limited Liability
Limited liability is a legal status in which a person's financial Legal liability, liability is limited to a fixed sum, most commonly the value of a person's investment in a corporation, company, or joint venture. If a company that provides limited liability to its investors is sued, then the claimants are generally entitled to collect only against the assets of the company, not the assets of its shareholders or other investors. A shareholder in a corporation or Limited company, limited liability company is not personally liable for any of the debts of the company, other than for the amount already invested in the company and for any unpaid amount on the shares in the company, if any—except under special and rare circumstances that permit "piercing the corporate veil." The same is true for the members of a limited liability partnership and the limited partners in a limited partnership. By contrast, sole proprietors and partners in general partnerships are each liable for all the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporation
A corporation or body corporate is an individual or a group of people, such as an association or company, that has been authorized by the State (polity), state to act as a single entity (a legal entity recognized by private and public law as "born out of statute"; a legal person in a legal context) and recognized as such in Corporate law, law for certain purposes. Early incorporated entities were established by charter (i.e., by an ''ad hoc'' act granted by a monarch or passed by a parliament or legislature). Most jurisdictions now allow the creation of new corporations through List of company registers, registration. Corporations come in many different types but are usually divided by the law of the jurisdiction where they are chartered based on two aspects: whether they can issue share capital, stock, or whether they are formed to make a profit (accounting), profit. Depending on the number of owners, a corporation can be classified as ''aggregate'' (the subject of this articl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Re FG Films Ltd
Re or RE may refer to: Arts, media and entertainment * '' ...Re'', a 2016 Indian Kannada-language film * ''Realencyclopädie der classischen Altertumswissenschaft'', a German encyclopedia of classical scholarship * ''Resident Evil'', a horror game franchise Music * Re, the second syllable of the scale in solfège ** D (musical note) or Re, the second note of the musical scale in ''fixed do'' solfège * Re: (band), a musical duo based in Canada and the US Albums * ''Re'' (Café Tacuba album) * ''Re'' (Les Rita Mitsouko album) * '' Re.'', by Aya Ueto * ''Re:'' (EP), by Kard Language * ''re'' (interjection), in Greek * Re (kana) (れ and レ), Japanese syllables * ''In re'', Latin for 'in the matter of...' ** RE: and Re:, a standard email subject line prefix Organisations * Renew Europe, a political group in the European Parliament * Renovación Española, a former Spanish monarchist political party * Royal Engineers, a part of the British Army * Royal Society of Painter-Pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Woolfson V Strathclyde BC
''Woolfson v Strathclyde Regional Council'' [1978UKHL 5is a UK company law case concerning piercing the corporate veil. Facts A bridal clothing shop at 53-61 St George's Road was Compulsory purchase, compulsorily purchased by the Glasgow Corporation. The business in the shop was run by a company called Campbell Ltd. But the shop itself, though all on one floor, was composed of different units of property. Mr Solomon Woolfson owned three units and another company, Solfred Holdings Ltd owned the other two. Mr Woolfson had 999 shares in Campbell Ltd and his wife the other. They had twenty and ten shares respectively in Solfred Ltd. Mr Woolfson and Solfred Ltd claimed compensation together for loss of business after the compulsory purchase, arguing that this situation was analogous to the case of ''DHN v Tower Hamlets LBC''.''DHN Food Distributors Ltd v Tower Hamlets London Borough Council'' [1976] 1 WLR 852 The Land Tribunal denied it on the basis that Campbell Ltd was the sole occu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
DHN Food Distributors V Tower Hamlets
''DHN Food Distributors Ltd v Tower Hamlets London Borough Council'' 9761 WLR 852 is a UK company law case where, on the basis that a company should be compensated for loss of its business under a compulsory acquisition order, a group was recognised as a single economic entity. It stands as a liberal example of when UK courts may lift the veil of incorporation of a company. The decision was, however, doubted in '' Woolfson v Strathclyde Regional Council'' and qualified in ''Adams v Cape Industries plc''. Facts DHN imported groceries and provision and had a cash-and-carry grocery business. Its premises were owned by its subsidiary which was called Bronze. It had a warehouse in Malmesbury Road, in Bow, the East End of London. Bronze's directors were DHN's. Bronze had no business and the only asset were the premises, of which DHN was the licensee. Another wholly owned subsidiary, called DHN Food Transport Ltd, owned the vehicles. In 1970 Tower Hamlets London Borough Council com ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lord Denning MR
Alfred Thompson Denning, Baron Denning, (23 January 1899 – 5 March 1999), was an English barrister and judge. He was called to the Bar of England and Wales in 1923 and became a King's Counsel in 1938. Denning became a judge in 1944 when he was appointed to the Probate, Divorce and Admiralty Division of the High Court of Justice, and transferred to the King's Bench Division in 1945. He was made a Lord Justice of Appeal in 1948 after less than five years in the High Court. He became a Lord of Appeal in Ordinary in 1957 and after five years in the House of Lords returned to the Court of Appeal as Master of the Rolls in 1962, a position he held for twenty years. In retirement he wrote several books and continued to offer opinions on the state of the common law through his writing and his position in the House of Lords. Margaret Thatcher said that Denning was "probably the greatest English judge of modern times". One of Lord Denning's successors as Master of the Rolls, Lord Bing ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Christopher Staughton
Sir Christopher Stephen Thomas Jonathan Thayer Staughton, PC (24 May 1933 – 15 October 2014) was an English barrister and judge, who sat as a justice of the High Court of Justice, Court of Appeal of England and Wales and President of the Court of Appeal of Gibraltar. Biography Staughton was the son of an Australian father (making Staughton a great-great-grandson of Simon Staughton) and of a Canadian mother, who separated when he was a child, as a result of which he was made a ward of court. He was educated at Eton College and Magdalene College, Cambridge, where he graduated with first-class honours in law in 1956. Staughton specialised in commercial law, most notably appearing in ''Hong Kong Fir Shipping Co Ltd v Kawasaki Kisen Kaisha Ltd''. He served as a Recorder in the Crown Court between being appointed to the High Court of Justice in 1981. In 1987 he was appointed to the Court of Appeal of England and Wales, where he sat until 1997. From 2005 to 2006, he served as Pre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Coral Rose (No 1)
''The'' is a grammatical Article (grammar), article in English language, English, denoting nouns that are already or about to be mentioned, under discussion, implied or otherwise presumed familiar to listeners, readers, or speakers. It is the definite article in English. ''The'' is the Most common words in English, most frequently used word in the English language; studies and analyses of texts have found it to account for seven percent of all printed English-language words. It is derived from gendered articles in Old English which combined in Middle English and now has a single form used with nouns of any gender. The word can be used with both singular and plural nouns, and with a noun that starts with any letter. This is different from many other languages, which have different forms of the definite article for different genders or numbers. Pronunciation In most dialects, "the" is pronounced as (with the voiced dental fricative followed by a schwa) when followed by a con ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Salomon V Salomon
is a landmark UK company law case. The effect of the House of Lords' unanimous ruling was to uphold firmly the doctrine of corporate personality, as set out in the Companies Act 1862, so that creditors of an insolvent company could not sue the company's shareholders for payment of outstanding debts. Facts Mr. Aron Salomon made leather boots or shoes as a sole proprietor. His sons wanted to become business partners, so he turned the business into a limited liability company. This company purchased Salomon's business at an excessive price for its value. His wife and five elder children became subscribers and the two sons became directors. Mr Salomon took 20,001 of the company's 20,007 shares which were payments from A Salomon & Co Limited for his old business (each share was valued at £1). The transfer of the industry took place on 1 June 1892. The company also issued to Mr Salomon £10,000 in debentures. On the security of his debentures, Mr. Salomon received an advance of £5, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Law
English law is the common law list of national legal systems, legal system of England and Wales, comprising mainly English criminal law, criminal law and Civil law (common law), civil law, each branch having its own Courts of England and Wales, courts and Procedural law, procedures. The judiciary is judicial independence, independent, and legal principles like Procedural justice, fairness, equality before the law, and the right to a fair trial are foundational to the system. Principal elements Although the common law has, historically, been the foundation and prime source of English law, the most authoritative law is statutory legislation, which comprises Act of Parliament, Acts of Parliament, Statutory Instrument, regulations and by-laws. In the absence of any statutory law, the common law with its principle of ''stare decisis'' forms the residual source of law, based on judicial decisions, custom, and usage. Common law is made by sitting judges who apply both United Kingdom l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Competition Law
Competition law is the field of law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. Competition law is implemented through public and private enforcement. It is also known as antitrust law (or just antitrust), anti-monopoly law, and trade practices law; the act of pushing for antitrust measures or attacking monopolistic companies (known as trusts) is commonly known as trust busting. The history of competition law reaches back to the Roman Empire. The business practices of market traders, guilds and governments have always been subject to scrutiny, and sometimes severe sanctions. Since the 20th century, competition law has become global. The two largest and most influential systems of competition regulation are United States antitrust law and European Union competition law. National and regional competition authorities across the world have formed international support and enforcement networks. Modern competition law ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arden LJ
Mary Howarth Arden, Baroness Mance, , PC (born 23 January 1947), known professionally as Lady Arden of Heswall, is a former Justice of the Supreme Court of the United Kingdom. Before that, she was a judge of the Court of Appeal of England and Wales. Early life and education Mary Howarth Arden was born in Liverpool, the daughter of Lieutenant-Colonel Eric Cuthbert Arden, of Heswall, Cheshire, a solicitor who had served with the Royal Garrison Artillery, and Mary Margaret (née Smith). Her grandfather was a partner in Gamon Arden and Co., a Liverpool firm of solicitors. Her father and brother, Roger, joined the family firm which merged with Hill Dickinson in 2007. She was brought up in south Liverpool and educated at Huyton College. She read law at Girton College, Cambridge, where she gained a starred first and an LLM, and an LLM degree at Harvard Law School in 1970 as a Kennedy Scholar. Career She was called to the bar at Gray's Inn in 1971, and joined Lincoln's Inn in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
