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" PIERCING THROUGH CORPORATE VEIL   PIERCING THROUGH CORPORATE VEIL   By   Qaiser Javed Mian, Attorney-at-Law   In the United States, corporate veil piercing is the most litigated issue in corporate law'. Natural persons usually form corporations/companies to insulate themselves from liability. The foremost advantage of incorporating is that the principals of the corporation/company get protected from personal responsibility for the debts and liabilities of the corporation/ company. But it is ironic that courts in Pakistan are generally reluctant to disregard the corporate form and pierce or lift the corporate veil. Traditionally the touchstone for the drastic remedy of piercing the corporate veil has been fraud. But the latest menace to our society and to the country is money laundering to provide funds to the terrorists and to private armies i.e. mercenaries though not only the corporate world but also through certain NGOs. The doctrine of lifting the veil should not only apply to corporate world but should also apply to the NGOs operating in the third world, particularly in Pakistan. The third category whose veil should be lifted is the politicians and bureaucrats who make black money, dirty money, and naughty money and so one. Therefore, in scope of this doctrine of "lifting veil" should be widened to cover all the three categories stated before. Traditionally, under this concept, the corporate personhood is set aside and personal liability is searched in favour of the affect plaintiff/petitioner in which case personal assets can also be reached out even if the corporate liability was limited.   Factors-Criteria.   Generally when evaluating if a corporation/company is in fact legitimate or Sham and whether the veil should be…