Arcetype Project Consultants Close Corporation v Pondola Women Trading CC and Others (HC-MD-CIV-ACT-CON-2022/01972)
Arcetype Project Consultants Close Corporation v Pondola Women Trading CC and Others (HC-MD-CIV-ACT-CON-2022/01972) [2023] NAHCMD 690 (1 November 2023)
The plaintiff failed to make out a prima facie case that the member defendants carried on the business of the first defendant recklessly or with gross negligence, or that there was a gross abuse of the juristic personality justifying piercing the corporate veil. The evidence showed the first defendant acted with an honest and justifiable belief in obtaining financing, and there was no evidence of personal benefit or improper conduct by the member defendants. Therefore, absolution from the instance was granted.
Source excerpt
- Absolution from the instance
- Reckless trading
- Gross negligence
- Piercing the corporate veil
- Close corporations liability