Cultreri v Eible and Another (361 of 1999) [2007] SCSC 17 (3 December 2007)

Cultreri v Eible and Another (361 of 1999) [2007] SCSC 17 (3 December 2007)

The defendants signed the cheques as directors and authorized signatories of KIBI Pty Ltd. There is no evidence or pleading of fraud, breach of trust, or misuse of the corporate form. The company, not the directors, is liable for the debt. The corporate veil is not to be pierced in these circumstances.

Source-derived case information.

Citation
[2007] SCSC 17
Parties
Plaintiff: Franco Cultreri; Defendant: Michael Eible; Defendant: Enrico Famulari
Court
Supreme Court
Jurisdiction
Seychelles
Judgment Date
3 December 2007
Case Number
361 of 1999
Procedural Posture
Civil / Judgment
Outcome
case dismissed with costs
Legal Topics
Corporate Veil, Director Liability, Bills of Exchange, Summary Procedure
Source Language
english
Company Law Commercial Law Corporate Veil Director Liability Bills of Exchange Summary Procedure

Source-derived case record

Summary, issues, holding and outcome

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Parties

Franco Cultreri

Plaintiff

Michael Eible

Defendant

Enrico Famulari

Defendant

Procedural Posture

Civil / Judgment

Legal Issues

  1. 1 Whether directors are personally liable for company cheques signed in their capacity as directors/authorized signatories
  2. 2 Whether the corporate veil should be pierced in the circumstances

Ratio Decidendi

The defendants signed the cheques as directors and authorized signatories of KIBI Pty Ltd. There is no evidence or pleading of fraud, breach of trust, or misuse of the corporate form. The company, not the directors, is liable for the debt. The corporate veil is not to be pierced in these circumstances.

Court Disposition

case dismissed with costs

Orders

  • The case is dismissed with costs.