Liability of a holding company for the debts of its insolvent subsidiary

Johanna Cilliers

Research output: ThesisDoctoral Thesis

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Abstract

[Truncated] Anthropomorphism, prevalent in religion and politics since the Middle Ages, also found its way into law. In the eighteenth century the anthropomorphic idea inspired lawyers to regard every company as an 'artificial body' or legal persona, which was in turn the impetus for the development of the principle of separate legal personality of a company. This principle and the other principles of our company and insolvency law were developed in England in the nineteenth century, culminating fin de siecle in the doctrine of limited liability in respect of companies. The twentieth century evidenced the phenomenon of group activity in the sense of the conduct of various businesses by a holding company through a number of subsidiaries. Thus, as the Cork Report pointed out: ?It is not surprising, therefore, that some of the basic principles of company and insolvency law fit uneasily with the modern commercial realities of group enterprise.?
Original languageEnglish
QualificationDoctor of Philosophy
Awarding Institution
  • The University of Western Australia
DOIs
Publication statusUnpublished - 2002

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