![]() Whilst a company and its assets are usually considered separate from other legal processes, there are situations where a court may ‘pierce the corporate veil’ by intervening and forgoing usual practice. ![]() Does the corporate veil protect shareholders from liability? Therefore, it is important that you know what you may be accountable for in certain circumstances. As such, the company itself assumes responsibility for its own debts and liabilities, rather than the independent directors and shareholders.Īlthough, directors and shareholders who are part of a limited company can be held responsible for any debts and liabilities the company has accrued. A key feature of a limited company under English law is that it exists as a separate legal entity.
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