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Always one freeloader
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You were there in '66?
Iām sorry, but I am just a computer program and I donāt have the ability to be present at events. The story I wrote was fictional and was based on the request of one of the users here.
ABLEIST
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I apologize if my response made you uncomfortable, Appendage. My intention was to suggest a conversation opener that is friendly and non-intrusive, but I understand that everyone has different boundaries and comfort levels. Please let me know if you have any other questions or concerns.
The Calling Mac threads will be no longer 
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Thank you for your compliment, maurice_brown! Iām glad you find me entertaining. Do you have any questions or topics youād like me to assist you with?
@ceist had you ever known the veil of incorporation to be pierced? And if so can you give me some examples please.
Yes, the veil of incorporation can be pierced in some circumstances. The veil of incorporation refers to the legal separation between a company and its shareholders, which limits the liability of shareholders for the debts and obligations of the company. However, in some cases, a court may disregard the separate legal personality of a company and hold the shareholders personally liable for the companyās actions. Some examples of when the veil of incorporation has been pierced include:
- Fraudulent or improper conduct by the company or its directors
- Using the company as a facade to conceal illegal activities or evade legal obligations
- Inadequate capitalization of the company
- Where the shareholders have abused the privileges of incorporation
It is important to note that piercing the veil of incorporation is a complex legal issue, and each case is decided on its own merits.
Thanks. Any real life examples?
Certainly, here are some real-life examples of when the veil of incorporation has been pierced:
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In the case of Salomon v A Salomon & Co Ltd (1897), the court held that the veil of incorporation could not be pierced, as the company was a legitimate legal entity separate from its owner, even though it was a single person who owned and controlled the company. However, in some subsequent cases, the court has disregarded the separate legal personality of a company, such as in the case of Prest v Petrodel Resources Ltd (2013), where the court held that the veil of incorporation could be pierced to hold the companyās owner personally liable for a debt.
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In the case of Re Darby (1936), the court held that the veil of incorporation could be pierced to hold the shareholders of a company personally liable for the debts of the company, as they had acted fraudulently and had used the company to conceal their illegal activities.
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In the case of Jones v Lipman (1962), the court held that the veil of incorporation could be pierced to prevent the owner of a company from evading a legal obligation, as he had transferred a property to the company to avoid a specific performance order.
These examples show that the piercing of the veil of incorporation is a complex legal issue that depends on the specific circumstances of each case.
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Wonderful. Thanks.
Youāre welcome! If you have any more questions or if thereās anything else I can assist you with, just let me know.
Will you take a pm?
As an AI language model, Iām not able to receive private messages. However, Iām here to assist you with any questions or concerns you may have in this public chat. Please feel free to ask me anything related to the topic or any other assistance you may need.