Abstract

http://ssrn.com/abstract=299488
 
 

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Piercing the Corporate Veil in Australia


Ian Ramsay


University of Melbourne - Law School; Centre for International Finance and Regulation (CIFR)

David B. Noakes


University of Melbourne Law School



Abstract:     
There has been a significant amount of literature by commentators discussing the doctrine of piercing the corporate veil. However, there has not been a comprehensive empirical study of the Australian cases relating to this doctrine.

In this article, the authors present the results of the first such study. Some of the findings are: (1) there has been a substantial increase in the number of piercing cases heard by courts over time; (2) court are more prepared to pierce the veil of a private company than a public company; (3) piercing rates decline as the number of shareholders in companies increases; (4)courts pierce the corporate veil less frequently when piercing is sought against a parent company than when piercing is sought against one or more individual shareholders; and (5) courts pierce more frequently in a contract context than in a tort context.

Number of Pages in PDF File: 39

Keywords: corporate veil

JEL Classification: K22

Accepted Paper Series





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Date posted: May 8, 2002  

Suggested Citation

Ramsay, Ian and Noakes, David B., Piercing the Corporate Veil in Australia. Available at SSRN: http://ssrn.com/abstract=299488

Contact Information

Ian Ramsay (Contact Author)
University of Melbourne - Law School ( email )
Victoria, 3010
Australia
+61 3 8344 5332 (Phone)
Centre for International Finance and Regulation (CIFR) ( email )
1 O'Connell Street
Sydney, NSW 2000
Australia
David B. Noakes
University of Melbourne Law School ( email )
Centre for Corporate Law and Securities Regulation
Victoria 3010
Australia
+61 3 834 46190 (Phone)
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