Trans-Lex Administrative Information
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No. X.2 - Piercing the corporate veil
(a) The separate legal personality of a corporation (“corporate veil”) may be disregarded in appropriate cases in order to hold a shareholder liable for the corporation’s debts.
(b) Appropriate cases are cases of:
mingling of corporate and financial spheres, especially in case of total control of the parent company over the business and financial affairs of its subsidiary, or
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