Phillips v. United Heritage Corp.

OPINION

W. STACY TROTTER, Judge.

It is a fundamental principle that the corporate structure normally insulates shareholders, officers, and directors from individual liability for the debts, liabilities, and obligations of the corporation. See Willis v. Donnelly, 199 S.W.3d 262, 271-72 (Tex.2006). Nevertheless, their abuse of this privilege can result in the “piercing of the corporate veil” and the imposition of individual liability. See Castleberry v. Branscum, 721 S.W.2d 270, 271 (Tex.1986). Theories exist that provide a basis for piercing the corporate veil. However, these theories and the…