Das Institute for European Integration freut sich, das Study Paper von Lydia Chao zum Thema

„Veil-Piercing under American, German, and Taiwanese Company Law“ zu veröffentlichen.

Lydia war Studentin im Master-Studiengang European und European Legal Studies am Europa-Kolleg Hamburg. Sie hat einen Bachelorabschluss in Business Administration von der Simon Fraser University in Kanada und einen weiteren Masterabschluss in European Studies von der Tamkang Universität in Taiwan.


The veil-piercing doctrine allows courts to pierce the metaphoric corporate veil that shields shareholders from being held personally liable for a company’s debts and liabilities. Since it is an exception to the statutory guarantees of limited liability and separate legal personality, it should be applied cautiously and infrequently. The decision of whether to pierce highly depends on juridical interpretations and decisions. As a result of this, the development and application of veil-piercing vary across jurisdictions and countries. This paper aims to provide an overview and critical analysis of the different approaches taken by the U.S., Germany, and Taiwan and further uses the observations from the theoretical analysis to evaluate whether the Union should harmonize veil-piercing in the EU in order to facilitate the freedom of establishment.

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