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Piercing the Corporative Veil in Maritime Law

Jasenko Marin ; Jadranski zavod HAZU, Zagreb

Puni tekst: hrvatski pdf 2.682 Kb

str. 83-115

preuzimanja: 632



Today, many fleets of ships operate within large shipowning groups controlled by the same parent corporation or holding company. Each vessel in such fleet is legally owned by (i.e. registered in the name of) a separate one ship company. None of these companies is the registered owner of any of the other vessels in the fleet but all of them have the same main shareholder (parent company). The general rule of the company law is that shareholders are not personally liable for the obligations of the company. Considering that rule, the use of above described form of shipping organization has provided a parent company with a presumptive shield from liability for the debts of it's subsidiaries - one ship companies. This paper deals with the cases in shipping practice related to the abuse of shareholder's ''non-liability'' principle. By analyzing domestic and foreign legislative and judicial practice, the author shows the modalities and consequences of such abuse. He also elaborates the legal grounds for the establishing the shareholder's liability in such cases. The author concludes that in Croatian legal system do exist provisions upon which, depending on the case, a liability of the company shareholder should and might be established. He emphasizes the importance of the court practice as the source of law. However, such liability should be imposed only where special circumstances exist indicating that parent company, as well as other potentially liable persons, have acted in a manner which violates the standards of conduct imposed by society on (legal) persons. That should especially be the case when one ship company has been used in order to avoid the payment of certain debts.

Ključne riječi

maritime law; corporative veil - piercing; ship company - shareholder's liability;

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Podaci na drugim jezicima: hrvatski

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