[DOWNLOAD] "Piercing the Veil on Corporate Groups in Australia: The Case for Reform." by Melbourne University Law Review ~ Book PDF Kindle ePub Free

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eBook details

• Title: Piercing the Veil on Corporate Groups in Australia: The Case for Reform.
• Author : Melbourne University Law Review
• Release Date : January 01, 2009
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 361 KB

Description

[Many large-scale businesses are conducted through the form of corporate groups, each company being a separate legal entity enjoying limited liability. This can create problems for those dealing with corporate group companies. This article makes two points: first, with reference to the theoretical literature on limited liability and veil-piercing, that the corporate veil should be pierced to impose liability on parent companies for conduct involving a lack of care and diligence or a lack of good faith in the dealings of their subsidiaries; and secondly, that the piercing should be done via statute, in effect codifying the liability of a parent company as a shadow director It is argued that this would overcome the vagueness of the present veil-piercing doctrine in Australia and send a message to parent companies that they cannot shield themselves behind the veil of incorporation to deny recovery to those affected by their decisions and their conduct.] I INTRODUCTION

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