PERSONAL LIABILITY OF DIRECTORS FOR COMPANY’S WRONGS: PIERCING THE CORPORATE VEIL

1. What does the “Corporate Veil” mean? The question of who to sue when a business entity commits a wrong is one of the threshold questions that a Nigerian lawyer to an aggrieved person must answer before filing a claim in a Nigerian court. The answer to this question is as crucial to the successful outcome as the nature of reliefs to seek, the forum of action, the length of demand or pre-action notice to give (if any) and other conditions precedent to fulfill in order to save the claim from being prematurely struck out on procedural objection(s).  Generally, under … Continue reading PERSONAL LIABILITY OF DIRECTORS FOR COMPANY’S WRONGS: PIERCING THE CORPORATE VEIL