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Piercing the Veil of Incorporation: Company Law for a Modern Era

Parker, David (2006) Piercing the Veil of Incorporation: Company Law for a Modern Era. Australian journal of corporate law, 19 (1). pp. 35-64. ISSN 1037-4124

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Abstract

The concept of piercing does not have a pre-eminent place in corporate law theory and practice, but related concepts of corporate entity and limited liability do. Piercing as a principle is as ambiguous as the concept of corporate entity, and while legislators have taken a lead in developing directors and shareholders rights, there has been little guidance or direction on fundamentally what a company is supposed to be. Consequently, issues such as when a court should pierce the veil, what constitutional rights a company may have, or its social obligations, lack any direction or consensus amongst courts and observers when such matters arise. The purpose of this article is to suggest, using examples of piercing the veil, that legislation should give some direction on the purpose and function of a company.

Item Type: Article
Uncontrolled Keywords: ResPubID11675, corporate law theory, corporate entity, limited liability directors rights, shareholders rights, pierce the veil, purpose and function of companies
Subjects: FOR Classification > 1801 Law
Faculty/School/Research Centre/Department > School of Law
Depositing User: VUIR
Date Deposited: 02 May 2012 04:54
Last Modified: 02 May 2012 04:54
URI: http://vuir.vu.edu.au/id/eprint/3065
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