n Without Prejudice - Piercing the corporate veil : company law
|Article Title||Piercing the corporate veil : company law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Author||Yaniv Kleitman and Chris Ewing|
|Publication Date||Apr 2011|
|Pages||8 - 9|
One of the fundamental pillars and points of departure in our company law is that a company is a separate legal entity: neither the directors nor shareholders of the company are liable for its debts or obligations. But of course there are exceptions, and it is trite that a court may, in special circumstances, "pierce the corporate veil" and hold the company's shareholders and/or directors liable for the debts of the company.
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