Thursday, March 15, 2012

Bhopal Gas Tragedy: Revisiting Issues of Liability under Corporate Law

Over at Critical Twenties, Arghya Sengupta has initiated a debate “on the twin issues of the legal responsibility of a successor multi-national company for the liabilities of its predecessor as well as … thoughts on the appropriateness of the Olympics partnering with such a corporation would be most appreciated.”
I have sought to step into the debate by addressing questions of legal liability where corporate law plays a crucial role in determining where the liability stands fixed. Two principles come into play. The first is whether a parent company is liable for acts or omissions of a subsidiary company, and the second is what happens to the liability of company when it (or its business) is sold. In order to read the full post, please click here.

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