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Paramount Equity Resurfaces

| Jun 12, 2015 | News |

“Piercing the corporate veil” or pursuing an individual for the debt of a corporation or LLC is very hard to do. This is the case even when that individual is responsible for running and deriving profit from that corporation or LLC. However, the Maryland Court of Special Appeals may have made it a bit easier. It has ruled that, where there is no allegation of common law fraud, a court may disregard the corporate entity and establish personal liability to enforce a paramount equity. This resurrects a doctrine that many thought had been effectively killed off. Establishing a “paramount equity” is still a daunting task, and there is little in the way of direction showing what conduct, other than fraud, creates a paramount equity. 

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