GROUPS OF COMPANIES 1

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GROUPS OF COMPANIES 1
2
GROUPS OF COMPANIES 2
Joint venture partner holds 50 of shares in
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GROUPS OF COMPANIES 3
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GROUPS OF COMPANIES 4
Woolfson v Strathclyde Regional Council
Mr.Woolfson
Mrs Woolfson
? shares
? shares
Solfred Holdings
999 shares
1 share
Campbell Ltd
Ran business there
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GROUPS OF COMPANIES 5
Where companies are kept alive as separate
corporate entities for good commercial or
historical reasons there is no reason to pierce
the veil
K B
Pinn Wheeler
500 yards
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ADAMS v CAPE INDUSTRIES
Save in cases which turn on the wording of
particular statutes or contracts, the Court is
not free to disregard the principle of Salomon v
Salomon Co. Ltd merely because it considers
that justice so requires. . If a company
chooses to arrange the affairs of its group in
such a way that the business carried on in a
particular foreign country is the business of its
subsidiary and not its own, it is, in our
judgment, free to do so. Per Slade L.J. Followed
in Re Polly Peck International plc and in Trustor
AB v Smallbone.
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ADAMS v CAPE INDUSTRIES
There was nothing illegal as such in Cape
arranging its affairs (whether by the use of
subsidiaries or otherwise) so as to attract the
minimum publicity to its involvement in the sale
of Cape asbestos in the US Per Slade L.J. Can
use Salomon to ensure that liability falls where
parent wants it to fall.
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Creasey v Breachwood Motors
Mr. Ford Mr. Seaman
Assets transferred
Breachwood Welwyn Ltd
Breachwood Motors Ltd.
Creasey - claim