Open AccessThe Necessity Of Piercing Corporate Veil Doctrine In Uzbek Corporate Law
Author(s) -
Utkirbek Kholmirzaev
Publication year - 2020
Publication title -
the american journal of political science law and criminology
Language(s) - English
Resource type - Journals
ISSN - 2693-0803
DOI - 10.37547/tajpslc/volume02issue12-13
Subject(s) - insolvency , doctrine , business , liability , shareholder , legal doctrine , corporate law , law , ex ante , law and economics , accounting , corporate governance , economics , political science , finance , macroeconomics
This article discusses the distribution of liability risks of shareholderss and other controlling persons on corporate liabilities. Given the analysis of ex post and ex ante model of control over distribution of risks of civil turnover participants in common law and continental legal traditions. Also, considered problems of shareholders' liability on obligations of corporations in the Republic of Uzbekistan. A shareholder shall be held liable on a subsidiary basis for the obligations of the legal entity in case of insolvency, as a result of the member's wrongful acts. However, some mechanisms of such liability do not allow to resolve the issue fairly.