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"British company law has failed to come to grips with the problems posed by purely groups of companies - Adams v Cape Industries shows the dark side of this failure" - Explain and Discuss this Statement.
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"British company law has failed to come to grips with the problems posed by purely groups of companies. Adams v Cape Industries shows the dark side of this failure" Explain and Discuss this Statement. In order to analyse the problems posed by groups of companies in British company law, it is essential to understand that the primary benefit of incorporation (excluding for the purposes of this work any fiscal advantages) is to acquire limited liability status. This essay will examine why the courts have been reluctant to "lift the veil" even if the interests of justice would seem to demand it. The starting point is that upon incorporation a metaphysical entity emerges from the ideas and aspirations of a human mind that is recognised, in law, as having a legal personality of its own, together with the rights, duties, obligations and liabilities that could normally be associated only with a natural person....
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