It represents a wrong adoption of the principle of piercing the corporate veil? (Cavendish)Internet Sources.?Rethinking Company Law and Practice?? In Woolfson v Strathclyde BC, 11 the House of Lords held that it was a decision to be confined to its facts (the question in DHN had been whether the subsidiary of the plaintiff, the former owning the premises on which the parent carried out. Similarly, in group enterprise, the parent (holding) and its susidiary company are two separate legal entities which have distinct, independent legal rights and liabilities of the others.
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The issue is discussed at length in a 2013 UK Supreme Court case, Prest v Petrodel Resources Ltd. Payment of dividends out of capital. Tower Hamlets 1976 3 All ER 462 and. When they provide inadequate capitalization and actively participate in the conduct of corporate affairs." Kinney pc troubleshooting thesis Shoe Corp. Vref1 titleLifting the corporate veil t dateNovember 2013 accessdate locationNottingham, UK Reference Copied to Clipboard.
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