My recent joint article with Chris Bryden in Construction Law:
Key Points:
- The concept of limited liability plays an important role in corporate life.
- But it shields director from the misery felt along the supply chain in the event of insolvency.
- Claims can sometimes be pursued however against directors.
- Case law suggests that true instances of piercing the corporate veil will be rare.
- Insolvency will usually mean that the supplier loses out, as a consequence of the greater good of limited liability from a macroeconomic perspective.
