Piercing from Behind the Veil
Piercing of the corporate veil is a well-established exception to the established principle that a company is a separate legal person from its shareholders. This exception allows the courts to look through the company’s distinct legal identity and treat it as an alter ego of the company’s shareholders.
Veil piercing is typically applied for the benefit of third parties seeking to establish a shareholder’s liability for the actions of or debts incurred by the company, rather than for the benefit of a shareholder seeking to assert rights properly belonging to the company.
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