Legal Dictionary of Pakistan

Deep Rock doctrine

Bankruptcy. The principle by which unfair or inequitable claims presented by controlling shareholders of bankrupt corporations may be subordinated to claims of general or trade creditors. 0 The doctrine is named for a corporation that made fraudulent transfers to its parent corporation in Taylor u. Standard Gas & Elec. Co., 306 U.S. 307, 59 S.Ct. 543 (1939).