Top NY Court Affirms High Bar For Piercing Corporate Veil

By Pete Brush (November 29, 2012, 6:58 PM EST) -- New York's highest court on Thursday backed a legal standard that makes it difficult for plaintiffs to hold individuals liable for alleged corporate abuses, nixing a personal injury plaintiff's bid to recover damages from two property owners in a ruling experts say should protect businesses statewide.

The unanimous New York State Court of Appeals agreed with a lower appellate court, the First Department of the Supreme Court of New York's Appellate Division, which in 2011 turned aside plaintiff Atara James' effort to pierce the corporate veil of Loran Realty V Corp.

James appealed after losing on her veil-piercing claim in a...

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