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Information Journal Paper

Title

DIRECTORS’ LIABILITY UNDER THE DOCTRINE OF PIERCING THE CORPORATE VEIL: THE DIRECTORS' LIABILITY FOR CORPORATE DEBT

Pages

  85-105

Abstract

 The doctrine of PIERCING the corporate veil holding DIRECTORs liable for corporate debt. Nevertheless, the doctrine is not a separate cause of action. DIRECTORs are bound by fiduciary duty, duty of loyalty and duty of care and skill to the corporation and its shareholders. However, there is not such a contractual relationship between DIRECTORs and creditors. Thus, requiring DIRECTORs to compensate creditors should be justified on tort law. In the Iranian, French and American legal systems, fault-based liability is the cause of action for DIRECTORs' liability. The author found that in PIERCING cases, DIRECTORs' liability follows the traditional rules of fault-based liability unless specified otherwise by statute as strict liability.

Cites

References

Cite

APA: Copy

JONEYDI, LAYA, & ZARE, MALIHEH. (2015). DIRECTORS’ LIABILITY UNDER THE DOCTRINE OF PIERCING THE CORPORATE VEIL: THE DIRECTORS' LIABILITY FOR CORPORATE DEBT. COMPARATIVE LAW REVIEW, 6(1), 85-105. SID. https://sid.ir/paper/246405/en

Vancouver: Copy

JONEYDI LAYA, ZARE MALIHEH. DIRECTORS’ LIABILITY UNDER THE DOCTRINE OF PIERCING THE CORPORATE VEIL: THE DIRECTORS' LIABILITY FOR CORPORATE DEBT. COMPARATIVE LAW REVIEW[Internet]. 2015;6(1):85-105. Available from: https://sid.ir/paper/246405/en

IEEE: Copy

LAYA JONEYDI, and MALIHEH ZARE, “DIRECTORS’ LIABILITY UNDER THE DOCTRINE OF PIERCING THE CORPORATE VEIL: THE DIRECTORS' LIABILITY FOR CORPORATE DEBT,” COMPARATIVE LAW REVIEW, vol. 6, no. 1, pp. 85–105, 2015, [Online]. Available: https://sid.ir/paper/246405/en

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