Entity shielding refers to...
the rules that protect the personal assets of a firm’s owners from the firm’s creditors
the rules that protect a firm’s assets from the personal creditors of the owners
What are the core features of a company?
legal personality
shared ownership
non-transferable shares
entity shielding
owner shielding
delegated management
It is impossible to lift (pierce) the corporate veil.
Shares in a company may be exchanged for a higher price than their face value.
In Germany delegated management consists of...
the supervisory board
the delegated board
the executive board
Private companies are easy to value as there is a lot of information about them openly available.
According to Salmon v Salmon the corporate personality principle and limited liability have the same meaning.
