Piercing the Corporate Veil

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clpstaff &clp articles

An Illustrative CaseIn 1992, a metal plate plant, an agriculture machine company and a municipal old age commission established a biotech company (the…

An Illustrative Case

In 1992, a metal plate plant, an agriculture machine company and a municipal old age commission established a biotech company (the Company). According to the articles of association, each party was to contribute Rmb100,000 in registered capital. However, because the old age commission failed to pay its registered capital, the actual paid in capital of the Company was Rmb200,000.

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