*CORPORATE PERSONALITY/LIFTING THE CORPORATE VEIL*

Other

  Analyse the following events in terms of the doctrine of incorporation and

  the situations in which the veil of incorporation is lifted.

  (i) Alpha Ltd and Beta Ltd are wholly owned subsidiaries of Gamma plc. The

  boards of directors of both subsidiaries are appointed by Gamma plc. Gamma

  plc has agreed to sell a piece of land to Omega plc. There is a legally

  binding contract for this sale. However, Gamma plc has just received a

  better offer for the land and wishes to escape its obligation to Omega plc.

  Accordingly, Gamma plc transfers the land to Beta Ltd. Omega plc has

commenced legal proceedings against Gamma plc and Beta Ltd for the specific

  performance of the original contract of sale.

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