Does an LLC’s Bankruptcy Discharge Apply to the LLC’s Alter Egos?
When a debtor LLC receives a discharge order from a bankruptcy court, a creditor is prevented from enforcing any preexisting debts against the discharged LLC as…
Alter Ego — No Single Factor is Determinative
Alter ego liability is again the flavor of the day. (See here for a list of all prior “alter ego” related posts.) As previously covered, the…
Alter Ego Liability for LLC Managers: the Facts Matter
Alter ego liability is a frequent topic covered in The LLC Jungle — see here for a list of all prior “alter ego” related posts. The…
Can an LLC Member be Forced to Contribute to the LLC’s Debts?
Members of an LLC are required to pitch in equally for the LLC’s expenses and debts, right? Generally, no. In a recent unpublished opinion filed by…
LLC Members — Prepare to Identify Yourselves
The Corporate Transparency Act (31 USC §5336) goes into effect January 1, 2024. Under the Act, most LLCs (and other entities) will need to supply basic…
LLC “Lien Priority” Battle: Charging Order vs. UCC Financing Statement
A charging order is a device used by a judgment creditor to collect on a judgment against an LLC member. The charging order imposes a lien…
Alter Ego, Equity, and Reverse Veil Piercing for LLCs
The LLC Jungle blog covered “reverse veil piercing” in a 2019 post: “Reverse Veil Piercing” to Reach an LLC’s Assets” Normally, a business entity is considered…
LLC Money-Shuffling and “Alter Ego” Liability
The “alter ego” doctrine allows a creditor of a business entity to “pierce the corporate veil” and enforce the debt against the company’s individual owners. The…
A Podcast Guest Appearance — Navigating The LLC Jungle
A huge THANK YOU to Ryan Lockhart — an excellent tax and estate planning attorney and podcast host at the McKenna Brink Signorotti LLP law firm…
Cannabis LLCs Are Not All “Peace and Love”
Limited liability companies (LLCs) are a popular modern form of business entity celebrated for their ease of implementation and informality. Despite the enactment of uniform legislation…