The responsibility of shareholders for the liabilities in an association of capital in English corporate law – realities and current tendencies Cover Image

Odpowiedzialność wspólników za zobowiązania spółki kapitałowej w angielskim prawie spółek – przebicie zasłony korporacyjnej oraz aktualne tendencje
The responsibility of shareholders for the liabilities in an association of capital in English corporate law – realities and current tendencies

Author(s): Paweł Mazur
Subject(s): Law, Constitution, Jurisprudence, Civil Law
Published by: Oficyna Wydawnicza AFM Uniwersytetu Andrzeja Frycza Modrzewskiego w Krakowie
Keywords: company law; corporate veil; single economic unit

Summary/Abstract: The English doctrine of the veil lifting finds its supporters and followers in other jurisdictions, that do not recognize this legal instrument. Unlike in the past decades, inrecent years English courts have been reluctant to disregard the principal of separate legal personality of a company and so to hold the shareholders liable for its debts. The jurisprudence has left only very limited scope of circumstances in which the veil ofincorporation can be lifted. It is only possible if the shareholder uses the company as a mere façade concealing the true facts in order to evade existing legal and contractual obligations and encumbrances. On the other hand, however, new approach to the liability of shareholders for the torts committed by companies can create an alternative for the veil lifting, which is of fundamental importance in case of the holding structures.

  • Issue Year: 18/2016
  • Issue No: 1
  • Page Range: 101-115
  • Page Count: 15
  • Language: Polish
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