Existenzvernichtungshaftung

Substantiv

partial

pierce the corporate veil

verb

Comparative law notes

Switzerland

The noun form of this concept that could be used as a partially equivalent translation of "Existenzvernichtungshaftung" is "piercing the corporate veil". The key distinction under the German concept, as suggested by its name, is that the cause triggering the piercing are owners' acts or omissions that are actually destroying the company's very existence.

Definitions of pierce the corporate veil

English

where a shareholder or director of a company may be held liable (=legally responsible) for a company's debts or liabilities despite the general principle that a company's shareholders and employees are immune from civil lawsuits filed against it

Judge Gordon ordered that the corporate veil be pierced on a list of Palmer's companies so they could be properly investigated.