Lifting The Veil Of Incorporation In International Law

The purpose of the study is to understand lifting the corporate veil under international law. In modern company law, the concepts of a separate corporate personality and Limited liability protect shareholders from being liable for unlimited company’s debts. This function of modern company law encourages the development of capital economy; however, it also poses a risk of abuse of the granted rights. Most modern company law systems have created the doctrine of "piercing the corporate veil" to avoid this risk of abuse. United Kingdom formally established the doctrine of "piercing the corporate veil" in International Law. This ended the uncertain status of the application of veil-piercing doctrine in International Law. This thesis explores the development of the doctrine of "piercing the corporate veil" in International Law and aims to highlight why it is significant to legalize the veil-piercing doctrine in International Law. The thesis also studies the expressed regulation of the doctrine of "piercing the corporate veil" in International Law and its current legal practice in the globe. Accepting the significance of legalizing the doctrine in new law, the thesis critiques the ambiguous scopes or narrow provisions of this new doctrine in legal practice; and also makes some proposals on this issue. The thesis concludes that it is desirable to find a feasible scope of application for the veil-piercing doctrine in the globe so as to avoid the porous status it appears to be. Perhaps, as recommended, an international Treaty should be enacted which will provide general rules of application of lifting the corporate veil in international law.