Tag: RECENT FIRST DISTRICT OPINION CLARIFIES STANDARD FOR PIERCING CORPORATE VEIL AS WELL AS WHO MAY BE HELD PERSONALLY LIABLE
Recent First District Opinion Clarifies Standard For Piercing Corporate Veil As Well As Who May Be Held Personally Liable
A basic principle of corporate law, indeed the very reason why individuals incorporate or organizations create subsidiaries, is to insulate stockholders (whether corporations or individuals) from the corporation’s liabilities. However, this insulation from liability is not absolute. “Piercing the corporate veil” (“PCV”) is the legal doctrine that allows a plaintiff to hold the entities or