Shell Corporation (Noun)
Meaning
A company that is incorporated but has no assets or operations.
Classification
Nouns denoting groupings of people or objects.
Examples
- The billionaire used a shell corporation to secretly purchase the private island.
- The company was fined for using a shell corporation to avoid paying taxes on its overseas profits.
- The government agency was investigating several shell corporations suspected of being fronts for money laundering operations.
- After the scandal, the CEO was forced to resign from the shell corporation he had set up to enrich himself at the expense of shareholders.
- A shell corporation was set up by the group of investors to purchase the distressed assets of the bankrupt company.