Corporate insolvency : separate legal personality and directors' duties to creditors / Mohammad Rizal Salim

Salim, Mohammad Rizal (2004) Corporate insolvency : separate legal personality and directors' duties to creditors / Mohammad Rizal Salim. UiTM Law Review, 2. pp. 90-103. ISSN 1511-9068

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Abstract

The primary purpose for the doctrine of separate legal personality is to encourage entrepreneurship, by shifting the risks of business failure away from entrepreneurs to creditors and other risk bearers. Unfortunately this doctrine is subject to abuse by corporate controllers, which prompted the courts and the legislature to provide for exceptions. These exceptions are better known as the lifting or piercing of the corporate veil. How do these exceptions protect creditors? How effective are they? This article seeks to examine laws in relation to the separate legal personality doctrine and the duties of directors which directly affects, or attempts to protect, creditors from unfair and improper conduct by corporate controllers.

Item Type: Article
Uncontrolled Keywords: Legal personality, entrepreneurship, corporate insolvency, business failure
Subjects: H Social Sciences > HB Economic Theory. Demography > Income. Factor shares > Entrepreneurship. Property
K Law > K Law in general. Comparative and uniform law. Jurisprudence > Commercial law > Insolvency and bankruptcy. Creditors' rights
Divisions: Faculty of Law
Depositing User: Staf Pendigitan 1
Date Deposited: 02 May 2015 04:49
Last Modified: 03 Jun 2016 08:23
URI: http://ir.uitm.edu.my/id/eprint/11832

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