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Rather than pierce the corporate veil and assign liability to
Note, however, the more general pronouncement by the United Kingdom Supreme Court that "the recognition of a limited power to pierce the corporate veil in carefully defined circumstances is necessary if the law is not to be disarmed in the face of abuse," and "is consistent with the general approach of English law to the problems raised by the use of legal concepts to defeat mandatory rules of law" (Prest v Petrodel Resources Ltd, [2013] UKSC 34, [2013] 2 AC 415 at para 27, Lord Sumption JSC[Prest]).
The decision in Hall contradicts prior Federal Circuit decisions, which found corporate executives could be liable for inducing infringement without any need to pierce the corporate veil.
Courts will consider the fact that a corporation is undercapitalized in making a determination to pierce the corporate veil.
The Commissions said because of the clear legislative intent to pierce the corporate veil and reach agents who were shielded by limited liability, it is reasonable to conclude that Congress, if given the opportunity, would have explicitly included LLCs within the scope of section 110(c) as entities that shield their agents from personal liability.
McCullough (6), a creditor was allowed to pierce the corporate veil and attach the shareholders' assets because the corporate defendant had no board of directors of officers, held no corporate meetings, kept no corporate records, had no assets or inventory, and conducted business with assets paid for or belonging to the shareholders.
If someone sues your corporation for damages or debt that far exceed the corporation's assets, then their lawyer is probably going to try to find a legal basis to push aside the protection and pierce the corporate veil.
The decision to pierce the corporate veil by a court is not a black and white decision.
3) A court will also use the identity rule to pierce the corporate veil when two corporate entities fail to observe corporate formalities.
Thus, the court declined to pierce the corporate veil.
WellPoint, the Ohio Supreme Court modified the test required for a plaintiff to pierce the corporate veil.
Only then will courts pierce the corporate veil (Fullco Lumber Co.