My essay covers the liability of members as well as of executive officers/directors of a company. The essay in the first part explains the system of damages in civil law systems, revealing a few differences in common law regimes. Afterwards, the origins of limited liability and the doctrine of veil piercing will be discussed. In the second part, I present the concerning common law rules and from a continental approach, the Hungarian normative regulations that serve as grounds for judges to declare shareholders liable for corporate debts. The liability of directors and executive officers will be explained under common law rules, too. The same topic of the Hungarian system is explained in details. The final section serves as a brief overview of the ECJ’s case law on the interpretation of corporate veil.