%0 Journal Article
%@ 0143-6503
%A Oh, Peter B.
%A Dignam, Alan J.
%D 2019
%F pittir:37717
%I Oxford University Press
%J Oxford Journal of Legal Studies
%K company law, corporate law, courts, empirical legal studies, veil piercing, veil lifting
%N 1
%P 16-49
%T Disregarding the Salomon Principle: An Empirical Analysis, 1855-2014
%U http://d-scholarship-dev.library.pitt.edu/37717/
%V 39
%X For over a century UK courts have struggled to negotiate a coherent approach to the circumstances in which the Salomon principle – that a corporation is a separate entity – will be disregarded. Empirical analysis can facilitate our understanding of this mercurial area of the law. Examining UK cases from 1885 to 2014, we created a final dataset of 213 cases coded for 15 different categories. Key findings confirm historical patterns of uncertainty and a low but overall fluctuating disregard rate, declining recently. Criminal/fraud/deception claims link strongly to disregard outcomes. Private law rates are low but tort claims have a higher disregard rate than contract. Individual shareholders are more susceptible to disregard than corporate shareholders. The English Court of Appeal plays a key role in successful disregard claims particularly in tort. In general, while disregard rates were very context specific, concerns about the diminished sanctity of the Salomon principle may be overblown.