An Article on Piercing the Corporate Veil, Co-authored by a Partner of Strategic Counsel Group, Has Been Published in an International Journal.

We are pleased to announce that an article in English, co-authored by Strategic Counsel Group Partner Salome Koberidze, has been published in the Scopus-indexed international scientific journal Review of European and Comparative Law. The article is entitled "The Scope of Piercing the Corporate Veil of Shareholders in a Limited Company in Georgia: A Comparative Analysis of German and Georgian Law."

It is noteworthy that, unlike the previous Law of Georgia on Entrepreneurs, the current Law of Georgia on Entrepreneurs regulates the issue of piercing the corporate veil differently. However, due to the novelty of this legal institution, Georgian judicial practice and legal scholarship on the subject remain limited, making it difficult to establish a consistent legal standard.

The article analyzes the legal framework governing the piercing of the corporate veil under Georgian law based on a comparative analysis with German law. Although a shareholder of a limited company is traditionally not liable for the company's obligations, both Georgian and German law recognize exceptional circumstances in which the issue of a shareholder's personal liability may arise.

The article examines the two cumulative prerequisites for imposing liability on a shareholder through the piercing of the corporate veil under Georgian law: the abuse of the legal form and the company's inability to satisfy its creditors' claims. At the same time, it reviews the issue of the concurrence of legal remedies in cases where creditors seek to impose personal liability on a shareholder.

The article is available in the attached file or on the official website of the journal: https://czasopisma.kul.pl/index.php/recl/issue/view/839