News & Analysis as of

Corporate Veil Personal Liability

First Department of New York Loosens the Standard for “Piercing the Corporate Veil”

One of the general and principal benefits of incorporating a business entity is limited liability; the owners of a corporation are not liable for the corporation’s actions or debts. There are, however, exceptions. One of the...more

Veil-Piercing Under California Law – Heightened Risks for Fund Managers

We recently posted about the risks associated with veil-piercing claims and the ways in which fund managers can protect themselves from exposure to these claims. Our first post on veil-piercing focused on Delaware standards,...more

Veil Piercing/Alter Ego Determinations – How Fund Managers Can Protect Themselves

A veil piercing claim can be a worst-case scenario for a private fund manager dealing with a struggling portfolio company investment – the company fails, and ensuing legal claims are brought not only against the portfolio...more

California Court Green Lights Reverse Veil Piercing Of Delaware LLC

by Allen Matkins on

Courts historically have applied the alter ego doctrine to “pierce the corporate veil” so that a shareholder may be held liable for the debts or conduct of the corporation. California has extended the possibility of alter...more

The Alter-Ego Of A Corporation: Piercing The Corporate Veil

by Fox Rothschild LLP on

A corporation is a legal entity separate and distinct from its shareholders. The corporate form generally shields shareholders from personal liability for the corporation’s debts. However, shareholders cannot incorporate...more

Piercing The Corporate Veil In Texas

by Fox Rothschild LLP on

Texas has long been one of the best locations to start a business, and a big reason for this is the liability protection afforded by the business-friendly Texas courts. Most business owners seek to limit their personal...more

Can the Corporate Veil be Pierced Against a Former Shareholder?

A recent opinion issued by the United States District Court for the Northern District of Illinois reminds us that corporate veil-piercing liability is not exclusive to shareholders. Anyone who is in control of and misuses the...more

Nevada’s Secretary of State Concatenates Veil Piercing, Indemnification And Exculpation

by Allen Matkins on

The Nevada Secretary of State’s website unabashedly proclaims “Nevada is the second most popular commercial filing jurisdiction in the country, due largely to our favorable business laws and low-tax environment.” The website...more

New Jersey’s Appellate Division Declines to Pierce Corporate Veil and Impose Personal Liability on Company Principal for Cleanup...

by Blank Rome LLP on

Action Item: On January 14, 2016, the Appellate Division of the New Jersey Superior Court in New Jersey Dep’t of Envtl. Prot. v. Navillus Group, No. A-4726-13T3, 2016 N.J. Super. Unpub. LEXIS 77 (N.J. Super. Ct. App. Div....more

Piercing The Corporate Veil Takes More Than Just Fraud By The Individual

Many of us have endured the nightmare of a disastrous home renovation or at least enjoyed Tom Hanks in The Money Pit (How long? Two weeks, of course). Well imagine spending half a million dollars, not for a new and improved...more

New DOJ Corporate Prosecution Guidelines

On September 9, 2015, United States Deputy Attorney General Sally Yates released a memorandum titled “Individual Accountability for Corporate Wrongdoing,” the latest in a series of corporate prosecution guidelines written by...more

Pay Attention to the Man Behind the Curtain: DOJ Memorandum Adds Further Weight to CPSC Enforcement Efforts Against Corporate...

by Morrison & Foerster LLP on

The United States Department of Justice (DOJ) recently issued a memorandum to various enforcement agencies. The memorandum, available here, focuses on holding individuals accountable for corporate fraud and misconduct. The...more

DOJ Clarifies Position on Individual Accountability in Corporate Investigations

Earlier this month, we discussed a memorandum issued by Deputy Attorney General Sally Quillian Yates of the U.S. Department of Justice (DOJ). This memorandum, referred to as the “Yates Memo,” reaffirms the Government’s...more

U.S. Department of Justice issues new guidance on individual accountability for corporate wrongdoing

by Thompson Coburn LLP on

On Sept. 9, 2015, the U.S. Department of Justice issued new guidance (“DOJ Guidance”) instructing DOJ criminal and civil attorneys to place a greater emphasis on accountability of the individuals responsible for corporate...more

New DOJ Policy Alert: Here's Looking at You, Kid - DOJ Announces Six Specific Steps to Hold Individual "Corporate Wrongdoers"...

Why it matters: On September 9, 2015, Deputy Attorney General Sally Quillian Yates issued a memo to all DOJ department heads and U.S. Attorneys which detailed the Government's new policy centered on accountability for the...more

DOJ Provides Guidance on Prosecution of Individuals

by Foley & Lardner LLP on

The Department of Justice (DOJ) long has required entities seeking credit for cooperating with its investigations to provide what it terms “full and truthful” cooperation. In policies memorialized over time, DOJ has been...more

Three Key Takeaways from DOJ’s New Yates Memo on Individual Accountability for Corporate Wrongdoing

by Morrison & Foerster LLP on

During a September 10, 2015 conference at New York University, Deputy Attorney General (DAG) Sally Quillian Yates announced new Department of Justice (DOJ or the Department) policy that could significantly affect the way that...more

DOJ Provides Focused “Guidance” on Prosecuting Corporate Individuals

by Womble Bond Dickinson on

After receiving significant criticism on the Department of Justice’s failure to prosecute corporate executives involved in the financial crisis in 2008, Sally Yates, the Deputy Attorney General issued a seven page memo...more

US Department Of Justice Targets Corporate Individuals

by Morgan Lewis on

DOJ announces tough new approach to the investigation and prosecution of corporate officers and employees. On September 9, in a major change to its approach to the investigation of alleged corporate crime, the US...more

Justice Department Prioritizes Prosecution of Individuals for Corporate Misconduct in New Guidance

After prolonged criticism over its lack of prosecution of individuals responsible for corporate misconduct, the Justice Department has issued new internal guidance that makes clear that prosecuting individuals in white collar...more

“Individual Accountability for Corporate Wrongdoing”: The Yates Memo and the DOJ’s Focus on Individuals

by Alston & Bird on

On September 9, 2015, the Department of Justice issued a memo (“Individual Accountability for Corporate Wrongdoing”) to federal prosecutors nationwide implementing new policies that—for the first time—prioritize the...more

DOJ Issues Memo Directing Prosecutors to Focus on Individual Accountability

The U.S. Department of Justice (DOJ) issued a memorandum on Wednesday from Deputy Attorney General Sally Quillian Yates that reaffirms the Government’s commitment to prosecuting individuals and formally instructs prosecutors...more

DOJ Announces New Policies Prioritizing Efforts to Pursue Individual Accountability for Corporate Wrongdoing

by King & Spalding on

On September 9, the United States Department of Justice released a new policy memorandum entitled “Individual Accountability for Corporate Wrongdoing,” which is aimed at strengthening and prioritizing the Department’s pursuit...more

Compliance Officers Can Face Individual Liability for Corporate Importation Violations

by Baker Donelson on

Corporate officers and shareholders take note: personal liability for unpaid duties may result from material misrepresentations on import documentation even when the importer of record is a corporate entity. The corporate...more

A $6 Million Reminder to Observe Corporate Formalities: Environmental Prosecutors Pierce Another Corporate Veil with Ohio Decision

by Bracewell LLP on

With ever-growing concern about environmental liability exposures, many shareholders rely on corporate structures – both simple and complex – to help insulate themselves from direct responsibility for the acts and omissions...more

36 Results
|
View per page
Page: of 2
Cybersecurity

"My best business intelligence,
in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.