Piercing the LLC Veil: Avoiding Member Liability for Business Debts

Protecting the Limited Liability Benefits of LLCs Amid Evolving State Law

Recording of a 90-minute CLE webinar with Q&A


Conducted on Tuesday, October 13, 2015

Recorded event now available

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Program Materials

This CLE webinar will discuss the latest legal trends across several states regarding piercing the LLC veil, and outline best practices for LLCs and LLC members to avoid personal liability for business debts.

Description

Courts are increasingly treating LLCs and corporations as equivalent entities, including applying the “piercing the corporate veil” theory to both business structures. When the LLC veil is pierced, litigants engaged in disputes with or owed debts by LLCs can look beyond the entity and pursue LLC members for potential liability and recovery.

State laws in this area are still developing, and there are no bright line rules. However, counsel to LLCs and LLC members can minimize the likelihood of veil-piercing claims by strictly adhering to LLC formalities, separating LLC assets from personal assets, executing a tight LLC operating agreement, and avoiding any personal guarantees of the LLC’s debt.

Listen as our authoritative panel explains the circumstances under which the LLC veil may be pierced and how state courts are ruling in LLC veil-piercing cases. The panel will discuss considerations and best practices for LLC members to avoid and defend veil-piercing claims.

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Outline

  1. Veil Piercing of LLC’s – what is it and is it applicable today?
  2. How to Best Present the concept to your clients
  3. Single Member LLC veil piercing
  4. Latest Trends in LLC veil piercing
  5. Factors courts consider in piercing the LLC veil

Benefits

The panel will review these and other key issues:

  • What are the latest legal trends in LLC veil-piercing cases?
  • What factors do courts consider in applying the piercing the corporate veil doctrine to LLCs?
  • What are some best practices for LLCs to avoid or defend veil-piercing claims?

Faculty

Markus May, Esq.
Markus May, Esq.

May Law Firm

Mr. May represents businesses on choice of entity decisions, forming entities and maintaining company compliance...  |  Read More

Paul Porvaznik
Paul Porvaznik

Davis McGrath LLC

Mr. Porvaznik focuses on commercial litigation. He practices primarily in the areas of general civil...  |  Read More

Other Formats
— Anytime, Anywhere

Strafford will process CLE credit for one person on each recording. All formats include program handouts. To find out which recorded format will provide the best CLE option, select your state:

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$297

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