When courts and#8216;pierce the corporate veiland#8217;, they disregard the separateness of the corporation and hold a shareholder responsible for the corporationand#8217;s action as if it were the shareholderand#8217;s own. Although as a general rule the courts are reluctant to allow corporate veil piercing, creditors of an insolvent corporation frequently attempt to hold the shareholders liable when they cannot obtain satisfaction from their debtor. In the United States, in fact, piercing claims constitute the single most litigated area in corporate law. This study clears up some...