Site /
Alter Ego And Veil Piercing
Site.CdAlterEgoAndVeilPiercing History
Hide minor edits - Show changes to output
Changed line 6 from:
Alter_Ego [[!Remedies]] [--CdAlterEgoAndVeilPiercing--]
to:
[[!Alter_Ego]] [[!Remedies]] [--CdAlterEgoAndVeilPiercing--]
Deleted line 31:
Changed lines 9-16 from:
to:
The legal concept of ''alter ego'' means as it sounds: A and B are really one-and-the-same in the eyes of the law. A is really B, and B is really A, and to treat them separately would be to sanction an injustice.
Where alter ego is found between a person and an entity (or a fiduciary relationship such as a trust), the court may allow the liability against the entity to pass through to the person. This is known as ''veil piercing''. When the liability goes in the other direction and passes through the person to the entity, this is known as ''reverse veil piercing'' -- although many courts have dispensed with the distinction between "straight" and "reverse" veil piercing and simply treat the concept as different sides of the same alter ego coin.
In other words, ''veil piercing'' is the court's cutting through of a liability shield, and alter ego is the legal concept upon which that cutting is based. In practice, this all tends to get rolled up into a single analysis and action by the court.
Alter ego and veil piercing provide an extremely useful tool to creditors, particular in cutting through asset protection structures where the debtor has transferred away the title to assets but still retains control of them.
Where alter ego is found between a person and an entity (or a fiduciary relationship such as a trust), the court may allow the liability against the entity to pass through to the person. This is known as ''veil piercing''. When the liability goes in the other direction and passes through the person to the entity, this is known as ''reverse veil piercing'' -- although many courts have dispensed with the distinction between "straight" and "reverse" veil piercing and simply treat the concept as different sides of the same alter ego coin.
In other words, ''veil piercing'' is the court's cutting through of a liability shield, and alter ego is the legal concept upon which that cutting is based. In practice, this all tends to get rolled up into a single analysis and action by the court.
Alter ego and veil piercing provide an extremely useful tool to creditors, particular in cutting through asset protection structures where the debtor has transferred away the title to assets but still retains control of them.
Added lines 19-25:
Court Opinions
Butler America, LLC v. Aviation Assurance Co., 55 Cal.App.5th 136, 269 Cal.Rptr.3d 284 (2020)
U.S. v. Holland, 953 F.3d 397 (6th Cir., March 10, 2020).
Changed lines 1-4 from:
(:title TOPIC:)
(:Summary:TOPIC Creditor Debtor Judgment Enforcement Collection:)
(:descriptionTOPIC Creditor Debtor Judgment Enforcement Collection:)
(:keywords creditor, debtor, judgment, enforcement, collection,TOPIC:)
(:Summary:
(:description
(:keywords creditor, debtor, judgment, enforcement, collection,
to:
(:title Alter Ego And Veil Piercing:)
(:Summary: Alter Ego And Veil Piercing Creditor Debtor Judgment Enforcement Collection:)
(:description Alter Ego And Veil Piercing Creditor Debtor Judgment Enforcement Collection:)
(:keywords creditor, debtor, judgment, enforcement, collection, Alter Ego, Veil Piercing:)
(:Summary: Alter Ego And Veil Piercing Creditor Debtor Judgment Enforcement Collection:)
(:description Alter Ego And Veil Piercing Creditor Debtor Judgment Enforcement Collection:)
(:keywords creditor, debtor, judgment, enforcement, collection, Alter Ego, Veil Piercing:)
Changed line 6 from:
to:
Alter_Ego [[!Remedies]] [--CdAlterEgoAndVeilPiercing--]
Changed lines 14-16 from:
!!!TOPIC Topics And Opinions
(:pagelist link=Category.TOPIC list=normal fmt=title:)
(:pagelist link=Category.
to:
!!!Alter Ego Topics And Opinions
(:pagelist link=Category.Alter_Ego list=normal fmt=title:)
(:pagelist link=Category.Alter_Ego list=normal fmt=title:)
Added lines 1-18:
(:title TOPIC:)
(:Summary: TOPIC Creditor Debtor Judgment Enforcement Collection:)
(:description TOPIC Creditor Debtor Judgment Enforcement Collection:)
(:keywords creditor, debtor, judgment, enforcement, collection, TOPIC:)
(:linebreaks:)
TOPIC [[!Remedies]] [--PAGENAME--]
[[<<]]
[[<<]]
TEXT
[[<<]]
[[<<]]
----
!!!TOPIC Topics And Opinions
(:pagelist link=Category.TOPIC list=normal fmt=title:)
----
(:Summary: TOPIC Creditor Debtor Judgment Enforcement Collection:)
(:description TOPIC Creditor Debtor Judgment Enforcement Collection:)
(:keywords creditor, debtor, judgment, enforcement, collection, TOPIC:)
(:linebreaks:)
TOPIC [[!Remedies]] [--PAGENAME--]
[[<<]]
[[<<]]
TEXT
[[<<]]
[[<<]]
----
!!!TOPIC Topics And Opinions
(:pagelist link=Category.TOPIC list=normal fmt=title:)
----