Lifting or Piercing of Corporate Veil

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QUESTION: Which of the following statements more accurately reflect the current law on lifting (or piercing) the corporate veil and why? ‘Salomon is in the shadow. It is still alive but no longer occupies the centre of the corporation stage’ (Schmittoff, C. M., ‘Salomon in the shadow’ [1976] Journal of Business Law 305) ‘The veil of incorporation is as opaque and impassable as an iron curtain’ (Samuels, A., ‘Lifting the veil’ [1964] Journal of Business Law 218) NB: You can access the articles where the quote is taken from below: 1. Schmittoff, C. M., ‘Salomon in the shadow’ [1976] Journal of Business Law 305: https://commons.swinburne.edu.au/file/71df0e76-c6ae-4575-9d9a-04dc7da92da8/1/0021-9460_pp.305-312.pdf 2. Samuels, A., ‘Lifting the veil’ [1964] Journal of Business Law 218: https://commons.swinburne.edu.au/file/be000aef-72a2-475a-a4c2-ae614a43b541/1/00219460_pp107-117.pdf

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