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The Second Opinion: The UK Supreme Court Declines to Extend the “Piercing the Corporate Veil” Doctrine

A Commentary on Recent Legal Developments by the Opinions Group of McCarthy Tétrault LLP

Posted in Features, The Second Opinion

In a much-anticipated decision released earlier this week that could have implications throughout Canada, the UK Supreme Court revisited and ultimately reaffirmed its venerable decision in Salomon v. Salomon, which recognized over a century ago the separate legal existence of a corporation from its shareholders. The Supreme Court was urged to lift the corporate veil in order to treat the owner of the corporations involved in the dispute as, in effect, a contracting party to various agreements signed only by the corporations. The Court unhesitatingly declined to do so.… Continue Reading