shell corporation

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Related to shell corporation: Shell company

Shell corporation

An incorporated company with no significant assets or operations, often formed to obtain financing before beginning actual business, or as a front tax evasion.

Shell Corporation

A company that exists as a vehicle for transactions without any independent activities or assets. Shell corporations are formed sometimes to obtain financing before they begin operations, or after a bankruptcy and business has ceased. They are also used in tax avoidance and tax evasion schemes: for example, companies may set up shell subsidiaries in tax havens and hide profits in them. See also: Reverse acquisition.

shell corporation

A corporation that has no active business operations and few or no assets.
References in periodicals archive ?
Whitehouse also serves as Ranking Member on the Senate Judiciary Crime and Terrorism Subcommittee, where he has helped to lead an investigation of Russian meddling in our elections and has confronted the use of shell corporations and dark money as tools of the Russian government.
Typically, the public shell corporation in a reverse merger is held by a third party to the company that wants to take the back door into public filing and trading.
For example, Desmond D'Sa, a resident of South Durban, South Africa, and chairperson of the South Durban Community Environmental Alliance, has engaged the leadership of Shell Corporation directly to deal with environmental issues similar to those in Norco.
Of course those members of the public who previously held stock in the shell corporation, still own stock in the corporation and may continue to trade their shares in the secondary market.
Helped Pinochet set up offshore shell corporations and open accounts in the names of those corporations to disguise his control of the accounts;
Among the giant corporations endorsing the Compact are those against which activist organizations and communities have waged struggle after struggle over violations of environments and workers the world over: Nike Corporation, Royal Dutch Shell Corporation, DuPont Corporation, Unilever Corporation, Daimler-Chrysler Corporation, Deutsche Telecom Corporation, and Rio Tinto Mining Corporation.
Thus, whether the purchaser is an existing organization or is a newly formed shell corporation without significant assets is relevant, unless the buyer pays full purchase price in cash at closing.
But recently it surfaced, now owned by a shell corporation called E-data.
13(b)] provide for no exceptions, even where the merger is accomplished with a shell corporation utilized solely for the purpose of changing the loss corporation's state of incorporation.
17) In Dominion Bridge, Span, a shell corporation was incorporated in the Bahamas by Dominion Bridge, a Canadian company that purchased steel for its operations.
The Las Vegas sale, which called for New Media to continue to manage the title, was to an anonymous shell corporation later determined to be owned by casino billionaire Sheldon Adelson.