Sorry, bondholders, ABN Amro said, but your securities were issued by an empty corporate shell.
The company was just a corporate shell that had previously been used by former U.S. President George H.
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Buyers are able to avoid many target company liabilities by buying the corporate assets and leaving the corporate shell.
So why didn't the Phipps trusts simply sell stock in Phipps Inc. to Gray and leave the corporate shell intact?
The IRS says it is little more than an avenue for owners of an empty corporate shell to avoid paying taxes.
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After the acquisition, National Industries sought to acquire all of the assets of TSC Industries and to liquidate the corporate shell.
Else, the corporate shell may crumble when you need it the most.
If your part-time delivery man hits a pedestrian, then a corporate shell, such as a limited liability company, can provide an extra layer of protection for your personal assets.
In Africa, the corporate citizenship programs for companies like Shell, De Beers and Monsanto consist mostly of small-scale social projects like health clinics or micro-credit schemes.
Grundfest thinks that in the near future, individual directors will face more scrutiny from the press, and shareholders will use their voting power to influence corporate governance rather than shell out millions of dollars to litigate or wage proxy campaigns.
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"One minute Bale's Patrick is a cowering corporate geek and self-described empty shell, the next an arrogant, name-dropping smoothie, the next a hysterical wimp unable to distinguish reality from fantasy, " it said.
Outside of the allegations in the case, what the posturing by Shell highlights is the alarming disconnect between corporate social responsibility practices and actual corporate behavior, including the choice of litigation strategy and legal positions.
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After a six month standoff, Shell backed down, demonstrating that non-traditional corporate stakeholders were gaining influence and could even veto power over executive decisions.
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But the problem is that as soon as fun becomes part of a corporate strategy it ceases to be fun and becomes its opposite at best an empty shell and at worst a tiresome imposition.
Ford expects its philanthropic arm to shell out 40% less this year, but says it remains committed to the principle of corporate giving.
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