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Articles Posted in personal liability

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Limited Liability Company Owners Personally Liable to Creditor

We counsel many owners of limited liability companies that the filing of a Certificate of Formation does note automatically protect the owners from person liabilities.  There are a number of business practices, often referred to as the “corporate formalities” that should be followed. A case from Iowa’s Court of Appeals…

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Does the LLC Statute Trump Agency Law?

Agent Fails to Dislcose Principal Exists, Avoids Liability Was the limited liability company statute supposed to eliminate basic principles of agency law?  That seemsto be the import of a decision by the Appellate Division of Superior Court in Castro v. Giacchi, Docket No. A-6220-12T2 (N.J. Super. App. Div. December 5, 2014)(Opinion…

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