Corporate Veil

Question of corporate veil for insurable interest

Corporate veil - employee/employer

Corporate veil - peculiar questions eg personality of shareholders

Corporate veil - personality of shareholders (who was the maker)

Corporate veil - avoidance of existing obligations

Corporate veil - single economic unit

Corporate veil - single economic unit

Corporate veil - not allowed facade?

Corporate veil - asbestos

Corporate veil - asbestos liable

shareholder's agreement is unenforceable of stops company from using its rights

only enforce the corporate constitution as far as it affects your right as a member

duty to act in good faith - act for members

at time, valid decision taken so directors in good faith

Takeovers highly regulated

standard of care before 1990s

standard of care since 1990

common law prohibited self dealing

fiduciary duties conflict. could the company have taken the business opportunity

Need the director's contribution but still liable?

derivative suits - fraud on minority

court can indemnify those who bring a derivative suits if an independent board would have brought an action

wind up company if just and equitable

legitimate expectation