In order to shield themselves from liability for business debts, business owners often set up corporations or limited liability companies through which they conduct business affairs. In keeping with such purpose, these corporate entities are often signatories of commercial real estate leases.
'Piercing the Corporate Veil' with Respect to Monetary Claims Against Commercial Tenants
In some cases, landlords have persuaded courts to "pierce the corporate veil," so as to recover sums from a corporate tenant's creditworthy parent entity and/or principal(s). In other cases, courts have refused to pierce the corporate veil.This article discusses when a court will, or will not, pierce the corporate veil.
By
Alexander LycoyannisThis premium content is locked for New York Real Estate Law Reporter subscribers only
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