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of <h1>Corporate veil piercing allows courts to hold shareholders liable when companies used as fraud facade</h1> The doctrine of lifting or piercing the corporate veil serves as an exception to the principle that companies are separate legal entities distinct from their shareholders. This doctrine allows courts to disregard corporate personality and attribute company acts to controlling parties. Originally established in a landmark case, the doctrine applies when corporate structure is used as a sham or facade to circumvent law, prevent fraud, evade statutory obligations, or when companies are inextricably connected as one concern. Courts may pierce the veil where corporate personality opposes justice, revenue interests, or public interest, particularly in cases involving illegality, fraud, or abuse of benefits.
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