Extract
Beyond the Corporate Veil.
In 1897 the House of Lords in Salomon v Salomon clearly established that a company is a legal entity distinct from its shareholders. Ever since that date businessmen have asked their legal advisors the question: "If I have a claim against a company and it transpires that it has no assets, am I able to claim against another party which does have assets?". This is a question that is particularly relevant in shipping and international trade transactions where single asset companies are common.
In t...See the full content of this document
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