A shareholder’s personal liability for the debts of a corporation is generally considered negligible at best—liability lies with the corporation itself. But there are exceptions and under particular circumstances, parties seeking compensation may address their claims directly to the shareholder. This CLE course will review the various principles that guide the courts in determining when to “pierce the corporate veil” and how those claims should be pursued, whether in defense or pursuit. The course will explain the many complexities of the issue through a review of the established principles of corporate insulation, the factors that impel the courts to question shareholder liability, single shareholder domination, the “alter ego” theory objectives of achieving equity in an appropriate case, a review of specific, relevant cases, a thorough examination of the role of corporate formalities and undercapitalization, practice issues including statutes of limitations, pleading, summary judgment and discovery.