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Macaura v Northern Assurance Co Ltd [1925] AC 619 appeared before the House of Lords concerning the principle of lifting the corporate veil. Unusually, the request to do so was in this case made by the corporation's owner.
Wallersteiner v Moir [1974] 1 WLR 991 is a UK company law case concerning piercing the corporate veil. This case was followed by a connected decision, Wallersteiner v Moir (No 2) , [ 1 ] that concerned the principles behind a derivative claim .
Sir Andrew Morritt VC held that there was enough evidence to lift the veil on the basis that it was a "mere facade". He noted the tension between Adams v Cape Industries plc and later cases and stated that impropriety is not enough to pierce the veil, but the court is entitled to do so where a company is used ‘as a device or façade to conceal the true facts and the liability of the ...
The company's assets expanded to $2 million in 1892 and $17M in 1914. [4] and over £5m by 1924. [11] The Union acquired China Traders Insurance Co. in 1906, the China Fire Insurance co. in 1916 and the Yangtze Insurance Association in 1925. [9] By 1920 the Union was the largest marine insurance company in the world. [12]
They registered a company called City of London Investment Corporation Ltd (LIC) in Guernsey. It had seven shareholders and issued £11 of its nominal capital of £100,000. Darby and Gyde were the only directors and entitled to all profits. The company purported to register and float a company in England called Welsh Slate Quarries Ltd, for £ ...
A more than 100-year-old Wichita company has filed for Chapter 11 bankruptcy to restructure the business and potentially bring in new partners. Amid bankruptcy filing, Pioneer Balloon owners find ...
The 1990 accounts (the first on line at Companies House) showed premium income of £3.5 billion but a £121 million pre-tax loss in 1990. After three years of losses, General Accident bounced back to record profits in 1993. This was followed by the purchase of the life assurance company, Provident Mutual in 1996. [4] [3]
In 1967 it acquired Union Insurance Society of Canton Ltd. In 1968 it merged with Royal Exchange Assurance to form Guardian Royal Exchange Assurance. [8] In February 1999 the Guardian Royal Exchange was purchased by AXA, who subsequently sold the Life and Pensions business to AEGON NV, later that same year. Aegon then sold the business to ...