Quote:
Originally Posted by dougp26364
Unless the LLC was designed strictly as a measure to defraud someone or an entitiy (such as a timeshare HOA). I'd almost bet that you could find yourself in an expensive and tight situation somewhere down the line if it could be proven that the LLC was started with the sole purpose of shifting liabilities for the purpose of defaulting on them.
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Quote:
Originally Posted by T. R. Oglodyte
Very doubtful that would stand if challenged. As I understand (and I'm not a lawyer and only play one occasionally on threads such as this) an action such as this would suffice to "pierce the liability veil" around the other entity and expose the assets of the owner(s) to the creditors.
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A piercing liability theory called sham to perpetrate a fraud in order to make an individual personally liable for corporate/LLC debts.
