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gjennomskjæring

English translation: piercing the corporate veil/disregarding the corporate entity

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Norwegian term or phrase:gjennomskjæring
English translation:piercing the corporate veil/disregarding the corporate entity
Entered by: brigidm
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07:39 Sep 23, 2007
Norwegian to English translations [PRO]
Bus/Financial - Law: Taxation & Customs
Norwegian term or phrase: gjennomskjæring
" Skattelovens lovfestede gjennomskjæringsregler når prisfastsettelse er påvirket av interessefellesskap ifølge skatteloven § 13-1 er foreslått innskjerpet."
brigidm
Norway
Local time: 00:00
lifting the veil
Explanation:
Hi Brigid!
This might help, but I am basing it on a trail of investigation I decided to take this rainy Sunday morning!
Åge Lind's Juridisk Ordbok gives this def. for gj.skjæring and the link explains the term in English business terms.
Hope this might help!
Selected response from:

William [Bill] Gray
Norway
Local time: 00:00
Grading comment
Thanks, Bill. For future ref: http://en.wikipedia.org/wiki/Piercing_the_corporate_veil
4 KudoZ points were awarded for this answer

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Summary of answers provided
4cut-through (for tax purposes)
Francis Gregson
2 +1lifting the veil
William [Bill] Gray
2disregarding corporate entity
Thomas Deschington


Discussion entries: 3





  

Answers


43 mins   confidence: Answerer confidence 2/5Answerer confidence 2/5 peer agreement (net): +1
lifting the veil


Explanation:
Hi Brigid!
This might help, but I am basing it on a trail of investigation I decided to take this rainy Sunday morning!
Åge Lind's Juridisk Ordbok gives this def. for gj.skjæring and the link explains the term in English business terms.
Hope this might help!


Example sentence(s):
  • In this article, we will examine the concept of lifting the veil and the circumstances where the court may "pierce" or "lift" the veil of incorporation.

    Reference: http://www.jonesbahamas.com/?c=135&a=11675
William [Bill] Gray
Norway
Local time: 00:00
Native speaker of: Native in EnglishEnglish
PRO pts in category: 19
Grading comment
Thanks, Bill. For future ref: http://en.wikipedia.org/wiki/Piercing_the_corporate_veil
Notes to answerer
Asker: Hi Bill. I must admit I though your proposal was too generalised for my purposes here, but then I found this "Også regler om såkalt ansvarsgjennombrudd (gjennomskjæring) kan medføre at aksjeeiere blir utsatt for et i prinsippet ubegrenset, personlig ansvar for tap voldt ved selskapets drift. Ansvarsgjennombrudd («piercing the corporate veil») vil si at aksjeselskapsformen settes til side, og at en eller flere aksjeeiere blir personlig ansvarlig for selskapets forpliktelser eller for tap som er voldt ved dets virksomhet." (http://www.regjeringen.no/nb/dep/jd/dok/regpubl/otprp/19961997/Otprp-nr-23-1996-97-/12.html?id=299759 ), so I think this may well be the equivalent translation.


Peer comments on this answer (and responses from the answerer)
agree  Thomas Deschington: It seems "piercing the corporate veil" is widely used. See http://www.expertlaw.com/library/business/corporate_veil.htm... and http://www.regjeringen.no/nb/dep/jd/dok/regpubl/otprp/199619...
2 hrs
  -> Thanks, Thomas! These links are interesting, too; "piercing" may be better here, I think!
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3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
cut-through (for tax purposes)


Explanation:
I have translated this term before in tax-related documents and on recommendation from the client this is what I used. So I would propose here something along the lines of: "... regulations related to cut-through for tax purposes when price setting is influenced by...". Especially if it's an official document from a tax authority. Bill's proposal explains what it is, but in my opinion is a more informal version.

Francis Gregson
Local time: 00:00
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4
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7 hrs   confidence: Answerer confidence 2/5Answerer confidence 2/5
gjennomskjæring (tilsidesettelse)
disregarding corporate entity


Explanation:
Looking at "gjennomskjæring" and "tilsidesettelse", I'm not sure if they are the same term. Maybe they are complementary terms? It seems from Norwegian texts that some say they are synonymous, and some don't... I found this example:

"For this reason, the cases and authorities cited in the briefs dealing with ***piercing the corporate veil*** and ***disregarding corporate entity*** to hold the acts, or obligations, of the individuals who control, or own all, or most, of the stock of, a corporation, to be those of the corporation itself, are not controlling and will not be discussed."

http://caselaw.lp.findlaw.com/scripts/cases/clcc.html?court=...

Other texts suggets that "piercing the corporate entity" is the more formal.

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Note added at 7 hrs (2007-09-23 14:54:39 GMT)
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To make it clear, I think "d. c. entity" would fit "tilsidesettelse".

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Note added at 7 hrs (2007-09-23 15:00:05 GMT)
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Yeah... that "piercing the corporate VEIL" is the more formal... (Take a nap, Tom)

Thomas Deschington
Poland
Local time: 00:00
Native speaker of: Native in NorwegianNorwegian
PRO pts in category: 12
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