2nd Circ. Backs Execs' Right To Pierce Veil And Indemnify Co.

Law360, New York (October 17, 2012, 8:00 PM EDT) -- Defendants who seek indemnity from a corporation suing them for their conduct as executives don’t lose their right to pierce the corporate veil and find other company executives personally liable for that coverage, the Second Circuit ruled Wednesday in a precedential opinion.

A three-judge panel ruled that Emery Kertesz, a former shareholder and officer of the defunct General Video Corp., can seek indemnity from GVC after successfully defending a suit brought by the company and pierce the corporate veil to potentially hold fellow executive Justin Korn...
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