(a)
Case summary: Company AA (plaintiff) filed a lawsuit against company AD and its subsidiary AL (defendant) to recover unpaid rent. During the trial, it was found that AL had no employees and was formed to keep the assets of AD away from the creditors. AA pleaded to pierce the corporate veil of AD and AL.
To find:The grounds for piercing the corporate veil.
(b)
Case summary: Company AA (plaintiff) filed a lawsuit against company AD and its subsidiary AL (defendant) to recover unpaid rent. During the trial, it was found that AL had no employees and was formed to keep the assets of AD away from the creditors. AA pleaded to pierce the corporate veil of AD and AL.
To find: Result of the case, if parties were closed corporations.
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Chapter 18 Solutions
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