Articles Posted in “Owner’s Liability”

In our last entry we discussed how piercing the corporate veil can result in the owner of a New York corporation being personally responsible for the corporation’s debts and obligations. We also set out the test for piercing the corporate veil: A Plaintiff must show that the owner of the…

“Piercing the Corporate Veil” is a term that may sound strange, archaic, or even intimidating; but when you dig through the lawyer-speak, it is really a simple concept. Piercing the corporate veil basically means that the owner of a corporation will be personally liable for the debts or obligations of…