GSL Company & Commercial Practice Questions - Ghana School Of Law PLC Company And Commercial Practice (GLC) Exam

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In the landmark Ghanaian case of Morkor v Kuma [1998-99] SCGLR 620, what guiding principle did the Supreme Court reinforce regarding the piercing of the corporate veil?

The corporate veil will only be pierced where the company was used as a sham, device, or to commit fraud. The corporate veil can be pierced whenever it is economically convenient for the creditors. A sole shareholder is always personally liable for all the debts of the company. The court can pierce the corporate veil at any time without any proof of wrongdoing.

Correct Answer:

The corporate veil will only be pierced where the company was used as a sham, device, or to commit fraud.

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