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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.
The cases of Tan v Lim, [31] where a company was used as a "façade" (per Russell J.) to defraud the creditors of the defendant and Gilford Motor Co Ltd v Horne, [32] where an injunction was granted against a trader setting up a business which was merely as a vehicle allowing him to circumvent a covenant in restraint of trade are often said to ...
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 ...
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 .
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]
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 Western Assurance Company was a Canadian insurance company that has operated from 1851 to 2025. Western was one of the country's earliest fire insurance companies and played an important role in the development of the industry in Canada.
Re Darby, ex parte Brougham [1911] 1 KB 95 is a UK company law case concerning piercing the corporate veil. It is a clear example of the courts ignoring the veil of incorporation where a company is used to conceal a fraudulent operation.