The Defence of the Corporate Veil - Parent Companies Beware! Much interest has recently been shown in the potential consequences of the judgment given in Stocznia Gdanska SA -v- Latvian Shipping Co and others, which was substantially upheld by the Court of Appeal on 21 June 2002. Although the case related to Shipbuilding Contracts, the result has reinforced the traditional view that the Courts will not countenance any further erosion of the fundamental principle of English Company Law that
The Concept of the Corporate Veil The ‘unyielding rock’ of corporation law, as established and relied upon in Salomon v A Salomon & Co Ltd, is the concept of the separate juristic personality of a corporation. Out of this century-old principle, the legal structure of modern business was born. The foundation of corporation law thus rests on the concept that a company has a separate legal personality which is recognised in the Companies Act 71 of 2008 (“the Act’). Section 19 of the Act allows a company
Piercing the Corporate Veil Since the establishment in Salomon v Salomon, the separate legal personality has been long recognised in English law for centuries, that is to say, a limited liability company has its own legal identity distinct from its shareholders or directors. However, in certain circumstances the courts may be prepared to look behind the company at the actions of the directors and shareholders. This is known as "piercing the corporate veil". There are numerous cases concerning
This promotes sustainable business practices and prevents debt bubbles that cause financial collapse. While om paper businesses in a free market are supposed to act in their own best interests, in American corporations, the corporate veil creates huge potential for fraudulent practices, the most notable being that major players, directors, and CEO's aren't obligated to make the most money for shareholders, they're obligated to make the most money for shareholders during that specific
For years the Courts, both nationally and internationally, have grappled with the concept of piercing the corporate veil. The doctrine creates much tension as it entails disregarding a principle factor of a company, namely its separate legal personality. Over the years there have been various interpretations of when to apply the doctrine at a common law level. However, s20(9) of the Companies Act 71 of 2008 (‘Companies Act’) appeared to have codified this common law approach, albeit with further
term ‘Lifting the veil’ is corporate law’s most broadly used doctrine to decide when and how a person will be liable for obligations of the corporation. The doctrine does exist to check the principle that, shareholders should not be accountable for the wrongdoings or debt that someone else did of their corporation. In the first instance, is the company seen as a legal person entity. And when the court or the government feels that there is some wrongdoing, they will lift the veil to see the truth.
Within the Middle East, the largest population of the men and women are Muslim. The Muslim religion suggests that women wear a veil or hijab, which is a head scarf that only exposes a woman’s eyes, accompanied by a burqa which is a full body cloak. The sole purpose of the clothing is to cover a woman’s feminine features from men’s eyes. The Qur’an, an Islamic scripture, supports and slightly obligates the uniform by saying that women are to be conservative, “let them wear their head covering over
of capitalism and of decadence (4). Also, at this time, it was made obligatory that girls wear a veil to school. The veil is seen as a symbolism for oppression, it makes Marji, and probably other girls and women, feel like less of a person. The gender separation and the use of the veil can be seen as one of the first steps toward women’s oppression and how their roles became
The transition from high school to college can be a difficult experience, but also life changing. It is a time of independence, along with constant questioning. This transition is a coming of age story, just like the novel Persepolis, the story of Marjane’s childhood and growth. Both are about transitioning from a safe haven to an unknown, distant place. Marjane learns to question authority, and form her own opinions through her experiences during the Iranian Revolution. By the time she steps onto
seeing woman in a veil in countries where the majority of people are Muslims. Even though, the picture of “Hijab” is not strange because it was known in previous cultures before Islam, it is considered as a phenomenon especially in the western societies which it still carries many of misunderstood thoughts. Some People who are non-Muslims in United States view “Hijab” as a fundamentalism, fanatics, barbarism, oppression, retro gradation, and terrorism image. Wearing the veil raises many controversial
Did you know, In Sweden there is "the kissing" tradition. If the groom leaves the room for any reason, all the other men at the wedding are allowed to kiss the bride. Vice versa for the groom, female guests choose to kiss the groom if the bride leaves the room. Now, can you imagine that at your wedding? I'm pretty sure we are all familiar with the traditional white dress and formal wedding. Like most weddings we are use to, there is the ring bear and flower girl, as well as the bride throwing her
The Iranian revolution was a movement that rejected westernization and sought to reinstate religious law in Iran. Before 1980 Iran was a westernized country, the people enjoyed freedom, were provided with liberal educations, and did not endure severe oppression (Satrapi 1). In her book, “Persepolis,” Marjane Satrapi writes, “The year before, in 1979, we were in a French non-religious school, where boys and girls were together” (4). However, a resistance began to form of Iranians who rejected westernization
Satrapi’s Persepolis introduces the Islamic veil as an attempt by the Iranian government to control women. Islamic radicals promised safety and security for those who abided by their rules. Rebels who refused to wear the headscarf were threatened with beating, rape or death. These modern women who fought against religious oppression met the minimal requirements of the government rules to safely live in the hostile environment. Through being forced to wear the veil, the control of the Islamic government
Life Behind the Veil in Du Bois' The Souls of Black Folk Du Bois' metaphor of double consciousness and his theory of the Veil are the most inclusive explanation of the ever-present plight of modern African Americans ever produced. In his nineteenth century work, The Souls of Black Folks, Du Bois describes double consciousness as a "peculiar sensation. . . the sense of always looking at one's self through the eyes of others, of measuring one's soul by the tape of a world that looks on in amused
The Veil The veil that the minister wears in "The Ministers Black Veil", by Nathanial Hawthorne represents the emphasis on man's inner reality, and those thoughts and feelings which are not immediately obvious. As Hawthorne explored this inner nature, he found the source of dignity and virtue, and certain elements of darkness. When the minister first walks out of his home wearing the veil, everyone is astonished. This one man in this village decides to be a nonconformist and wear this veil without
A veil is an article of clothing that is intended to cover some part of the head, face, or physical feature that may hold some significance. It is especially associated with women and sacred objects. Not only does it conceal a person’s physical appearance, but it contributes to stifling one’s individuality. In Marjane Satrapi’s graphic novel Persepolis, Marjane, the main character, lives in Iran and is required, by fear of punishment, to wear a veil that only leaves her face uncovered. The veil
Romantic era, wrote and published the short story, “The Minister’s Black Veil,” in 1836. The story provides an intriguing case of the moral and psychological facet of a religious man and his community during New England and Puritan Age. The tale begins with the villagers gathering on the front porch of the Milford meeting-house to wait for Reverend Hooper. Parson Hooper arrives, and to their astonishment, wearing a black veil obscuring his face. The villagers wonder among themselves and follow him
Hijab, which is also known as the veil, is the Islamic dress for women consisting the head covering, along with the body covered modestly. In Learning Islam 2, according to historians, the practice of Hijab was “part of [the] everyday dress for women in Ancient Christian and Jewish communities”(D32). Back then, many Christian and Catholic women wore a head covering as a sign of chastity. We can also see that there are references to the practice of wearing the veil in both the Old and New Testaments
In the story of, “The Minister’s Black Veil” it mainly has to do with curiosity and lots of mystery. It takes place on a Sunday at church when suddenly a man with a black veil shows up. The veil covered his eyes, which made everyone fear of him and become curious as to why he was wearing that veil. That is when many unanswered questions came into mind. For Example, if the reason why he was wearing that veil was to keep a sin, then the people thought they had a right to know the big secret behind
especially young women . As a young child Marji was told to wear the veil , and was confused on why she had to go from wearing normal clothes to wearing clothes that were uncomfortable and that looked foolish. Individuality isn’t expressed in Tehran especially for women. Wearing the veil became obligatory in Tehran in 1980. As seen in the beginning of the book the girls can’t be identified because they all her wearing the veil. Thus showing that individuality wasn’t present. Marji goes on to say