Germany
See also: German company lawGerman corporate law developed a number of theories in the early 1920s for lifting the corporate veil on the basis of "domination" by a parent company over a subsidiary. Today, shareholders can be held liable in the case of an interference destroying the corporation. The corporation is entitled to a minimum of equitable funds. If these are taken away by the shareholder the corporation may claim compensation, even in an insolvency proceeding.
Read more about this topic: Piercing The Corporate Veil
Famous quotes containing the word germany:
“It took six weeks of debate in the Senate to get the Arms Embargo Law repealed—and we face other delays during the present session because most of the Members of the Congress are thinking in terms of next Autumn’s election. However, that is one of the prices that we who live in democracies have to pay. It is, however, worth paying, if all of us can avoid the type of government under which the unfortunate population of Germany and Russia must exist.”
—Franklin D. Roosevelt (1882–1945)
“It is the emotions to which one objects in Germany most of all.”
—Franz Grillparzer (1791–1872)
“By an application of the theory of relativity to the taste of readers, to-day in Germany I am called a German man of science, and in England I am represented as a Swiss Jew. If I come to be regarded as a bête noire the descriptions will be reversed, and I shall become a Swiss Jew for the Germans and a German man of science for the English!”
—Albert Einstein (1879–1955)