Singapore Bar Examinations Part A - Company Law Practice Questions - Singapore Bar Examinations Part A - Company Law Exam

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Under Singapore common law, when will the court pierce the corporate veil on the ground that the company is a mere sham or facade?

When the corporate structure is being used to evade an existing legal obligation or defeat a right. Whenever a company has only a single shareholder and a single director. Whenever the company becomes insolvent and cannot pay its trade creditors. When the directors make negligent business decisions that lead to massive financial losses.

Correct Answer:

When the corporate structure is being used to evade an existing legal obligation or defeat a right.

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