Piercing the Corporate Veil of the Special Purpose Vehicles: Not as easy as it might appear

Philip J. Mohr
Philip J. Mohr | Womble Bond Dickinson

Phil is a trial lawyer. Although he will search for creative legal and business solutions for his clients, his more than two decades of trial experience for publicly-traded corporations, privately-held companies, and middle-market international businesses in federal courts and arbitration proceedings throughout the country have taught him that some cases simply have to be tried to verdict.

On-Demand: March 21, 2022

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Program Summary

The rise of the single purpose entity, or special purpose vehicle (“SPV”), has grown tremendously in recent years. Given the SPV’s often-limited assets and activities, plaintiffs have grown frustrated by an inability to obtain any meaningful recovery against these entities or the persons in charge of them. As a result, the attempt to pierce the SPV’s corporate veil has similarly grown but often with limited success. In this CLE, we will examine recent court decisions addressing efforts to pierce the SPV’s corporate veil, the troubles that the plaintiffs have experienced, and potential ways to maintain or defend against these types of claims.

This course is co-sponsored with myLawCLE.

Key topics to be discussed:

  • The history and use of the SPVs by businesses
  • The history and importance courts place on corporate separateness
  • The evidence necessary to maintain a claim to pierce the SPV’s corporate veil
  • Strategies for asserting or defending against such claims

Date / Time: March 21, 2022

  • 2:00 pm – 3:00 pm Eastern
  • 1:00 pm – 2:00 pm Central
  • 12:00 pm – 1:00 pm Mountain
  • 11:00 am – 12:00 pm Pacific

Choose a format:

Live Video Broadcast/Re-Broadcast: Watch Program "live" in real-time, must sign-in and watch program on date and time set above. May ask questions during presentation via chat box. Qualifies for "live" CLE credit.

On-Demand Video: Access CLE 24/7 via on-demand library and watch program anytime. Qualifies for self-study CLE credit. On-demand versions are made available 5 business days after the original recording date and are viewable for up to one year.

Closed-captioning available

Speakers

Philip J. Mohr_Womble Bond Dickinson_myLawCLEPhilip J. Mohr | Womble Bond Dickinson

Phil is a trial lawyer. Although he will search for creative legal and business solutions for his clients, his more than two decades of trial experience for publicly-traded corporations, privately-held companies, and middle-market international businesses in federal courts and arbitration proceedings throughout the country have taught him that some cases simply have to be tried to verdict.

Representing companies that have both been wronged and accused of wrongdoing, Phil has honed his trial skills in cases involving complex business litigation (including fraudulent transfer and equitable subordination cases in the Delaware bankruptcy court), commercial torts (e.g., unfair trade practices, fraud, trade secrets theft, etc.), cybersecurity/data breach matters, and shareholder derivative suits. Phil also authors the North Carolina Business Court Report, a blog discussing how recent decisions from the North Carolina Business Court impact companies doing business in North Carolina.

Employing a strong work ethic and a comprehensive knowledge of his client’s business and industry—all while keeping legal costs in check—Phil’s clients have achieved successful results at every stage of litigation, from verdicts to favorable pre-trial resolutions (when appropriate).

Agenda

I. The history and use of the SPVs by businesses | 2:00pm – 2:15pm
II. The history and importance courts place on corporate separateness | 2:15pm – 2:30pm
III. The evidence necessary to maintain a claim to pierce the SPV’s corporate veil | 2:30pm –2:45pm
IV. Strategies for asserting or defending against such claims | 2:45pm – 3:00pm