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The principle in Salomon’s Case that a company is a legally different person from those who control it represents the current law in Ireland.For example, if I form a company called ‘Murphy & Co Ltd’ in which I own one hundred per cent of the shares and am a director and employee, legally speaking the company and myself are two distinct people.




The court held that the income-tax authorities were entitled to pierce the veil of corporate entity and to look at the reality of the transaction to examine whether the corporate entity was being used for tax evasion.Mr Salomon owned 20,000 £1 shares, and his wife and five children owned one share each.Some years later the company went into liquidation, and Mr Salomon claimed to be entitled to be paid first as a secured debenture holder.A corporation is a separate legal entity from its owners.In other words, if a corporation, in the course of doing business, is involved in any legal action, then the corporation, for legal purposes, is its own person.

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