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Lifting the corporate veil..Following the decision of the court of appeal in Adams v Cape Industries plc (1990) Ch 433
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Shelley Holden P06293485 Company Law for Accountants LAWG2013 Assignment Number 1 Word Count: 1,576 1,598 (including references) Following the decision of the court of appeal in Adams v Cape Industries plc (1990) Ch 433 discuss how far you agree with the statement that the courts ability to lift the veil of incorporation is now "limited to cases involving an " enemy corporation" or where the company's classed as a façade." The corporate veil is a legal term, meaning that the shareholders are immune from any debts of the company, unless any shares remain unpaid. The reason for this is because the company is classed as a separate legal entity. The case of "Salomon v A Salomon & co (1897)" is the foundation of any decision of the House of Lords in the area of company law. The effect of this decision was to show that in fact a company could not always be classed as a separate legal entity. Aron Salomon...
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