Piercing the Corporate Veil: Failure to Observe Corporate Formalities and Intermingled Assets

Part two of the Piercing the Corporate Veil Series covering failure to observe corporate formalities and intermingling corporate assets with personal assets.

Generally, the corporate form acts as protection for the individual owners or shareholders of a company. However, that protection is not always available and business owners must be conscious of how they run their company to make sure that the corporate form or corporate "veil" remains in place. If they don't the corporate veil can be pierced under some situations.

This is part two of the series discussing the circumstances where a court might pierce the corporate veil. We talked about fraud in our last video, in this one Anton covers the failure to observe corporate formalities and intermingling company assets with personal assets.

What does it mean to fail to observe corporate formalities? What does it mean to mix company assets with personal funds or the funds / assets of another company?

For a more in depth discussion of the corporate veil, piercing the corporate veil, and additional real-life examples check out the Kaminsky Law Blog - https://kaminskylaw.com/what-is-the-c...

Links to the other two parts:
Part one: Explaining the definition of the corporate veil, what it means to pierce the corporate veil, and covering fraud as a reason to disregard the corporate form -    • Piercing the Corporate Veil: What doe...  
Real world example of intermingling assets:    • Piercing the Corporate Veil: Real Wor...  
Part three: Covering undercapitalization (having more assets than liabilities), inadequate insurance, and common ownership of multiple companies under the umbrella of one parent company -    • Piercing the Corporate Veil: Undercap...  

Don't forget to Like, Comment, Share, and Subscribe 👍

Follow our socials below! 🧑‍⚖️‍📝
Facebook:   / kaminskylawllc  
Instagram:   / kaminskylaw  
Twitter:   / wedolawsuits  
LinkedIn:   / kami.  .
Check out our website for blog posts and more useful resources https://kaminskylaw.com/

Text or Call us at 215-876-0800 for a free consultation!

Reminder: This is NOT legal advice. Every situation is different. You should consult with a lawyer about your specific issue.