Company law

“…There may, however, be cases where the wording of a particular statute or contract justifies the treatment of
parent and subsidiary as one company, at least for some purposes; or where the court will ‘pierce’ (or ‘lift’) the
corporate veil. The doctrine of piercing the corporate veil should only be invoked where a person is under an
existing legal obligation or liability or subject to an existing legal restriction which he deliberately evades or
whose enforcement he deliberately frustrates by interposing a company under his control”.
(Halsbury’s Laws (5th edn, 2010) vol 14, para 116)
Based on the quotation above, critically evaluate the principles in relation to the veil of incorporation. Do you
agree with the quotation? In answering the question, students must refer to various judgments and academic
judgments.

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