A Review of Piercing the Veil Cases in Arkansas
By Carol Goforth · October 10, 2011 · 2011 Ark. L. Notes
In categories: Business Law
Piercing the veil is an equitable doctrine developed at common law, which under certain circumstances allows a court to order that the separate legal existence of a business entity be disregarded. Originally, the doctrine was designed to allow creditors and other claimants to recover against the shareholders of a corporation, despite the usual rule that shareholders have no personal liability for debts of the corporation.