The principle that a company is a SEPARATE LEGAL ENTITY, distinct from its shareholders, even where one person substantially controls it, was settled by the House of Lords in:

Salomon v. Salomon & Co. Ltd. (1897) is the foundation of the doctrine of SEPARATE LEGAL PERSONALITY: a company upon incorporation is a distinct entity in law from its members, with its own rights, liabilities and property, even where one individual is the substantial owner. It is the basis of limited liability. Salomon is qualified by the doctrine of LIFTING THE CORPORATE VEIL in exceptional, statutorily-prescribed situations. Ashbury Railway Carriage is the authority for ultra vires, and Foss v. Harbottle for the rule against minority actions. Salomon is thus the bedrock of company law.