Definition
Legal doctrine whereby the court finds a corporation lacks a separate identity from an individual or corporate shareholder, resulting in injustice to the corporation’s debtors. Finding alter ego gives the court cause to pierce the corporate veil and hold individual shareholders personally liable for debts of the corporation.Â
Illustrative caselaw
See, e.g. Fletcher v. Atex, Inc., 68 F.3d 1451 (1995) and United States v. Bestfoods, 524 US 51 (1998).
See also
- Keywords