
Reverse Piercing of your Corporate Veil For Creditors in California
Piercing the corporate veil is a legal concept that allows a court to disregard the limited liability protection afforded to a corporation and hold its shareholders personally liable for the corporation's debts or obligations. This is typically done when the corporation is found to have been used for fraudulent or illegal purposes or when the corporation and its shareholders fail to maintain sufficient separation between their personal and business affairs.