THE DOCTRINE OF “REMOVING THE CORPORATE VEIL”: A COMPARATIVE LEGAL ANALYSIS OF THE LEGISLATION AND JUDICIAL PRACTICE OF RUSSIA AND SOME ASIAN COUNTRIES

Abstract

In this article, the authors aimed to give a comparative legal analysis of the doctrine of “removing thecorporate veil” in the context of legislation and judicial practice of the Russian Federation and some Asiancountries (People’s Republic of China, Indian Republic). In the process of studying this problem, it wasconcluded that there are similar norms in foreign legislation with Russian ones on the prohibition of usingthe legal status of a company for the purpose of abuse of law, on the prohibition of affiliation, as well as adiscussion rule on the full joint and several liability of the sole founder of a limited liability company. Inaddition, the conclusion is made about the increasing use of this doctrine in the country of an atypical legalfamily for it — the People’s Republic of China. Based on the materials of the judicial practice of the Republicof India, an attempt has been made to classify this doctrine according to the criterion of the purpose of abuse:in the case of a limited approach, the responsibility of the controlling persons is assigned in the case of theinitially fictitious purpose of creating a legal entity, and in the case of an unlimited approach — for any unfairaction using the limited liability structure of the founder (participant) of the company for its debts.