Definition for : Pierce the corporate veil
GLOSSARY LETTER
A judge will "pierce the corporate veil" when he believes that, though a limited liability corporate was the party being for instance bankrupt, in fact this company was merely an instrument to carry out a fraud on behalf of its Shareholders. In that case, the judge will held the Shareholders directly responsible.
(See Chapter 46 Mergers and Demergers of the Vernimmen)
To know more about it, look at what we have already written on this subject