A desconsideração da personalidade jurídica e a subcapitalização das sociedades comerciais
: uma perspetiva comparada entre Portugal e Espanha

  • Ema Micaela Lira Fontes (Student)

Student thesis: Master's Thesis


The present dissertation, elaborated in the scope of the Master in Company and Business Law, aims at studying the divergences and similarities between the Portuguese and Spanish legal systems regarding the disregard of legal entity and one of its most problematic groups of cases: the material undercapitalization. In this context, we will first proceed to a brief analysis of the historical evolution of the mechanism in question. Then, disregard will be dealt with, particularly the doctrinal divergence patent in both legal systems and the opinion of the respective authors. Subsequently, in the second chapter, the central theme of this work will be addressed, the material undercapitalizacion, which will be vastly explored in its various aspects, in order to understand how it operates in these two legal systems that, despite being neighbors, present some diferences.
Date of Award10 Feb 2022
Original languagePortuguese
Awarding Institution
  • Universidade Católica Portuguesa
SupervisorMaria de Fátima Ribeiro (Supervisor)


  • Disregard of legal entity
  • Lifting the veil
  • Limited responsability
  • Capital stock
  • Material undercapitalization
  • Protection of company creditors


  • Mestrado em Direito

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