Reference no: EM132264912

Roman Guzman (RG) has a race horse assessment business (Roman Horses) he formed as a corporation. He is the only shareholder. He is also the only director and officer. Roman hired Katrin Tran (KT) to redo his home office for $7,000 while he was on a trip assessing horses. He made $20,000 on the trip, which was deposited into his business account. However, when Katrin was done there was no money to pay her. Roman had spent $12,500 on tuition for his kids at their school, $500 on a new bedspread, and $7,000 on new living room furniture. Katrin sued Roman Horses. When she discovered the company had no assets, she sued Roman personally, saying the court should pierce the corporate veil. a) Will the court allow Katrin to pierce the corporate veil? b) Please explain why or why not applying the facts of this case to the relevant law.