Dance of the corporate veils: Shareholder liability in the united states of America and in the republic of Turkey

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Date

2008

Authors

Hızır, Serdar
Hızır, Serdar

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Open Access Color

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Law
(2003)
Started in 2003 with 21 students, the Atılım University School of Law has so far graduated over 1700 students, and currently offers education for more than 1300 students. With the aim stressed by our Founding Dean Prof. Dr. Nami Çağan, we grant students with the background that allows them to access and evaluate information, rather than overloading them with information dumps during our education and training in the field of law. With a curriculum prepared with this approach and our mission in mind, we aim to graduate our students as actual legal experts who have internalized ethical rules, who are knowledgeable in terms of rules and institutions; and who are cultured, versatile, broad-visioned and inquisitive. In addition to basic courses in law conducted by our academic staff as pioneers of their field with respect to these principles, elective courses are available pursuant to current events such as those in mediation for legal disagreements, law and women, sports law, informatics law, media law and legal English; as well as law clinics to offer effective and interactive education. In addition, graduate and doctorate degree programs, alongside certificate programs such as those to train experts, peace-makers, mediators, and trustees in composition, are underway. A member of the European Law Faculties Association (ELFA), our School offers international relations and events, the Erasmus+ program, national and international fictional court contests, law and art days prepared by our student networks, or career forums in law to collaborate in the personal development of our students.

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Abstract

The foundation of corporate law is the existence of a legal entity separate from its shareholders, thus shielding shareholders from liability for corporate obligations. Courts have rarely, and with trepidation, pierced through this corporate veil to impose liability on shareholders for corporate malfeasance. These instances have become more common in recent decades, suggesting that corporate investors and parent corporations acquiring subsidiaries need to be diligent to minimize their risk. In this article two academicians discuss the consequences of wrongdoing and mismanagement underlying the pros and cons of the systems adapted by both countries.

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Hukuk

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0

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Source

Ankara Bar Review

Volume

1

Issue

2

Start Page

76

End Page

105