4 ms·
Isn't the real story here the CPUC's attempt to breach the veil of corporate limited liability?
by alextingle 13y ago
Isn't the real story here the CPUC's attempt to breach the veil of corporate limited liability?
- makomk 13y agoAs far as I'm aware, it's always been possible to breach the veil of corporate limited liability under certain circumstances precisely because of people doing what Craig Zucker did: earning money in a way that incurs huge liabilities or potential liabilities, for example by selling a popular but unsafe product, then transferring all the corporation's money to themselves in an attempt to avoid paying for those liabilities.
- graeme 13y agoIANAL, but there's a large of law regarding when this can be done. The WSJ's treatment ignored this. They treated the issue as one dimensional, turning only on whether the statute allowed personal liability. http://en.m.wikipedia.org/wiki/Piercing_the_corporate_veil http://en.m.wikipedia.org/wiki/Piercing_the_corporate_veil