Ratification of corporate acts, Business Law and Ethics

Ratification of Corporate Acts:

A number of English cases which are regarded as instances of lifting the veil are those relating to informal ratification by the members of acts done on behalf of the company. In each of these cases the court regarded a  decision of the members as the decision of the company itself and thereby lifted the veil of incorporation. This is illustrated by Re: Duomatic Ltd (16) and Re:  Express Engineering Works Ltd (17).

Group Enterprises

Numerous cases have been decided by English courts the general tenor of which is to regard a subsidiary and its holding company as one entity. There is no basic  principle governing the lifting of the veil in these  instances and each decision was based on the facts of the particular case. Examples are Harold Holdsworth & Co Ltd vCaddies (18), Hellenic and General Trust Ltd (19) and DHN Food Distributors v London Borough of Tower Hamlets (20).

Posted Date: 1/12/2013 2:10:27 AM | Location : United States







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