5 months Piercing the veil of OPCs Manilatimes |Biz
EUNEY MARIE MATA-PEREZA corporation is an artificial person with a juridical personality separate from its stockholders, directors, and officers. With this personality, corporations enjoy the benefits of succession, limited liability protection, centralized management and generally free-transferability of shares. However, this separate personality can be pierced or disregarded under the doctrine of piercing the veil of corporate fiction. This occurs when the fiction (of separate personality) is used as a means of perpetrating a fraud or an illegal act or as a vehicle for the evasion of an existing obligation, circumvention of statues, perpetration of knavery or a crime. The ... more