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Personal Liability Business Divorce

Stradling Yocca Carlson & Rauth

California Business Divorce: Partner Fraud and Personal Liability: Important Lessons from Bartenwerfer v. Buckley

The Story Behind the Case - Kate and David Bartenwerfer started their business with a straightforward plan. The couple decided to renovate and sell a house they jointly owned in San Francisco....more

Stradling Yocca Carlson & Rauth

California Business Divorce: Partner Fraud and Personal Liability - Important Lessons from Bartenwerfer v. Buckley

The Story Behind the Case - Kate and David Bartenwerfer started their business with a straightforward plan. The couple decided to renovate and sell a house they jointly owned in San Francisco. David handled the remodeling...more

Farrell Fritz, P.C.

Diving Into the Shallow Waters of New York Law Permitting Elimination of LLC Managers’ Liability for Breach of Fiduciary Duty

Farrell Fritz, P.C. on

There’s a ton of Delaware caselaw enforcing Section 18-1101 (c) of that state’s LLC Act as amended in 2004, authorizing LLC agreements to eliminate the members’ and managers’ liability for breach of fiduciary duty, the only...more

Stradling Yocca Carlson & Rauth

Business Divorce Blog: Destruction of LLC Records Will Likely Subject LLC Owners to Personal Liability in a Business Divorce...

In a recently published opinion, Hacker v. Fabe, 92 Cal. App. 5th1267 (2023), the California Court of Appeal found that an LLC owner’s destruction of the company’s records was a substantial factor that subjected him to...more

Robson & Robson, P.C.

The Pennsylvania Supreme Court Makes It Harder For Business Owners To Escape Legal Liability By Hiding Behind Corporate Structures

Robson & Robson, P.C. on

“Piercing the corporate veil” is one of those legal terms that makes a legal action seem more romantic than it really is. When a party to a legal dispute attempts to pierce the corporate veil of a corporate adversary, they...more

Stradling Yocca Carlson & Rauth

California Business Divorce: Reverse Veil Piercing: Permitting a Court to Hold a Company Liable for the Debt of an Individual...

You have likely heard the term “piercing the veil.” This legal doctrine permits a court to ignore corporate formalities and hold an individual owner liable for a company’s debt. But you may be less familiar with the doctrine...more

Farrell Fritz, P.C.

Principles of Fiduciary Deference: The Business Judgment Rule and Exculpatory Clauses

Farrell Fritz, P.C. on

A number of lawsuits have percolated through New York’s courts over the past five years between Adam Max, son of world-renowned visual artist Peter Max, and Adam’s sister, Libra, over control and management of the family...more

Farrell Fritz, P.C.

Defendant Dissolves Mid-Lawsuit: What’s the Creditor’s Remedy?

Farrell Fritz, P.C. on

Generally speaking, New York courts respect the corporate form, regarding the liabilities of the entity as separate from and inapplicable to the entity’s principals. Under this principle, a plaintiff may litigate a difficult...more

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