Abstract

http://ssrn.com/abstract=1090027
 


 



Piercing the Corporate Veil in Regulated Industries


Douglas G. Smith


Kirkland & Ellis LLP; Loyola University Chicago School of Law; American Enterprise Institute (AEI)

February 1, 2008

Brigham Young University Law Review, Vol. 2008, No. 4, 2008
George Mason Law & Economics Research Paper No. 08-08

Abstract:     
This article addresses the theoretical justifications for limited liability and the exceptions to limited liability under the various veil piercing doctrines. In particular, the article considers whether veil piercing is appropriate in regulated industries such as insurance and banking, which have comprehensive regulatory structures that are designed to prevent much of the conduct that veil piercing is designed to remedy. The article concludes that veil piercing is not justified under such circumstances because the economic costs outweigh any benefits.

Number of Pages in PDF File: 46

Keywords: piercing the corporate veil, limited liability, corporate veil, corporations

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Date posted: February 6, 2008 ; Last revised: December 15, 2008

Suggested Citation

Smith, Douglas G., Piercing the Corporate Veil in Regulated Industries (February 1, 2008). Brigham Young University Law Review, Vol. 2008, No. 4, 2008; George Mason Law & Economics Research Paper No. 08-08. Available at SSRN: http://ssrn.com/abstract=1090027

Contact Information

Douglas Geoffrey Smith (Contact Author)
Kirkland & Ellis LLP ( email )
300 North LaSalle
Chicago, IL 60654
312 862 3374 (Phone)
Loyola University Chicago School of Law ( email )
25 E. Pearson
Chicago, IL 60611
United States
American Enterprise Institute (AEI) ( email )
1150 17th Street, N.W.
Washington, DC 20036
United States
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