In Re Rehabilitation of Centaur Ins. Co.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that a corporation may not assert alter ego claim against its own shareholders but also reasoning that rehabilitator, unlike bankruptcy trustee, was not permitted by Illinois law to assert creditors’ claims
• noting that the corporate form is properly disregarded in order to remedy fraud practiced upon third-parties
• repudiating the notion that under Illinois law the corporate form may be disregarded at the behest of the corporation or its shareholder(s
• approving the principle that piercing must never be made in favor of a corporation or its shareholders
• “[a] corporation is a legal entity which exists separate and distinct from its shareholders, directors and officers”
• “A corporation is a legal entity separate and distinct from its shareholders, directors, and officers”

Source: CourtListener parenthetical corpus (CC0).