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  1. #1
    Join Date
    Oct 2008
    Location
    Quezon City, Philippines
    Posts
    1

    Default When Do Criminal Acts Justify Piercing the Corporate Veil

    Hi! I'm currently a law student in the Philippines. As part of our requirements for graduation is to make a thesis on a legal matter. The topic that I have chosen is: Criminalizing acts warranting the piercing of the veil of corporate fiction.

    I want to summon the help of lawyers(even in other countries) to judge if such topic is feasible. And I also want to inquire if in other jurisdictions if such acts (those that warrant the piercing of the veil of corporate fiction) are already criminally punishable.

    Here is the preliminary abstract of my thesis. Comments regarding the topic specifically regarding its feasibility and viability are most welcome and highly solicited and appreciated:

    This thesis will discuss the main doctrine of separate juridical entity that is granted to corporations once the incorporators properly incorporate under the Corporation Code. It will also explore the doctrine of piercing of the veil of corporate fiction and determine when it is warranted. There are 3 instances which warrant the piercing of the veil of corporate fiction. These are:

    a. When the corporate entity is used to commit fraud or to justify a wrong, or to defend a crime (fraud cases);
    b. When the corporate entity is used to defeat public convenience, or a mere face, since the corporation is merely the alter ego, business conduit or instrumentality of a person or another entity (alter ego cases); and
    c. When the piercing of the corporate fiction is necessary to achieve justice or equity (equity cases).


    This thesis will show that the effects of an adjudication of that the corporate veil should be pierced is inadequate to give full redress to the parties with whom the corporation contracted with. This is because an evil was perpetrated by the actors which warrant the piercing of the veil of corporate fiction. Such acts, hereinafter referred to as corporation-exploitation are not only injurious to the other contracting party but to the public as well as it endangers the sanctity of business transactions, deleterious to public policy, and it exploits the grant of the corporate fiction to an entity. Because of this, the state acting under its police power, should seek to gnaw on the perpetrators of such acts and one of the means of doing so is by enacting a special law which penalizes the acts of corporation-exploitation.

    Finally, this thesis will propose a special law which will concretize the current doctrine of piercing the veil of corporate fiction, define the acts embraced under corporation-exploitation, provide for the elements of the crime, and imposition of penalties therefor.

  2. #2
    Join Date
    May 2008
    Location
    Louisville, KY
    Posts
    1,877

    Default Re: Criminalizing Acts Warranting the Piercing of the Veil of Corporate Fiction

    Very interesting, and some great ideas! Good luck on your thesis.

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