Moseley Group Management Co$.($MGM$)$ provided man$$agement services to apartment complexes. MGM$$s only assets were equipment worth $$500$ and a bank account with an average balance of $$1,500.$ Richard Moseley ran the company and owned half of the stock.

MGM contracted with Property Tax Research Co$.($PTR$)$ to obtain a lower property tax assessment on one of its complexes. PTR per$$formed$,$ but MGM refused to pay and transferred its assets and employees to Terrace Management, Inc., a corporation controlled by Moseley. PTR filed a lawsuit against Moseley to recover the unpaid fees.

Should the court pierce the corporate veil and hold Moseley personally liable for the debt? If so$,$ on what basis?