Lifting the corporate veil

The principle of limited liability is one of the fundamental principles of legal personality, which the personal assets of the owners and managers of companies are not affected from the debts and obligations of the legal entity. The principle of limited liability is a defining and distinctive characteristic that defines legal personality. Legal professionals often use the terms "veil" and "curtain" to explain this principle, which are also used in various foreign languages, as in Turkish. However, in recent years, because to the abusive use of this feature of legal personality, the absolute nature of the corporate veil has become a subject of debate, and we have seen various cases where the corporate veil has been lifted to identify the responsible parties behind it. In particular, the Supreme Court of Appeals in Turkey has various rulings on this matter, which will be examined in detail with this study. When examining international practices, we encountered different approaches and opinions regarding the lifting of the corporate veil or questioning of it. Different countries have different approaches to the protection of the corporate veil or the lifting limited liability. We can easily say that in Anglo-Saxon countries, the lifting the corporate veil is more readily pursued. The issue of lifting the corporate veil creates various debates among legal professionals. Some argue that lifting the corporate veil is important for ensuring justice and preventing malicious actions, while others argue that preserving the independent legal entity status of companies is crucial, and lifting the corporate veil would undermine this quality. Corporate veil has been one of the most controversial subjects under corporate. Over the year, various judicial and legislative bodies have looked into the subject and have had differing and varied views . With this thesis, we aimed to provide a detailed examination of the lifting of the corporate veil in terms of its applications in Turkish law, international practices, comparisons, and debates. In this way, a more comprehensive research can be conducted for the subject of the lifting of the corporate veil, and we believe that it can contribute to the discussions in this field.