For Your Data Consumer's Co-Op V. Olsen Representative Brief

Consumer's Co-op v. Olsen instance brief summary
419 N.W.2d 211 (1988)

CASE SYNOPSIS

Defendant shareholder sought review of a judgment of the Circuit Court for Walworth County (Wisconsin) entered inward favor of plaintiff creditors that pierced the corporate veil of a enterprise owned past times defendants.

PROCEDURAL HISTORY
The trial courtroom entered judgment inward favor of plaintiff creditor against accused shareholder.

DISCUSSION

• On appeal, the courtroom reversed the trial court's judgment together with directed that judgment move entered inward favor of defendant. 
• The courtroom held that the trial courtroom erred when it pierced the corporate veil of a enterprise inward which plaintiff was a shareholder. 
• The courtroom found that the enterprise was adequately capitalized when it was formed together with that plaintiff's actions inward continuing to extend credit to the enterprise in i trial it became delinquent on its concern human relationship waived whatever correct of plaintiff to assert a claim that the enterprise afterward became undercapitalized every mo a number of increased business. 
• The courtroom too held that at that topographic point was inadequate bear witness to found that the enterprise had no variety hear of its ain or that the enterprise disregarded corporate formalities.

CONCLUSION
The courtroom reversed the judgment of the trial courtroom that was entered inward favor of plaintiff creditor together with remanded amongst directions to teach into judgment inward favor of accused shareholder because at that topographic point were no grounds to pierce the corporate veil.

Recommended Supplements for Corporations together with Business Associations Law

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