On 2011-10-03, Lloyd E. Sponenburgh lloydspinsidemindspring.com wrote:
Ignoramus19762 fired this volley in
:

I will ask my lawyer about it, I talked to him a little today. I doubt
that just because I form an LLC, and someone accidentally causes
damage to neighbors, or the environment, that I would be off the hook
just because I formed some kind of business entity.


Here's the issue: If the corporation legitimately enters into a contract
which becomes "poison", and you have not personally done KNOWINGLY
negligent things to promote that condition, then all they can do is sue
the corporation.

Right. A contract with an LLC, limits the recourse. So, say, if my LLC
cannot pay its bills, or some such, limited liability may shield its
owner.

Not so, when it comes to any torts where the negligent person is the
owner of the LLC.

If you (basically) keep the corporation "broke", there's nothing to gain
from a suit. They can try, but they'll get only what the LLC owns.


I make machines to make explosives! How much liability do you think
there is in that? G My attorney, who deals in manufacturing liability,
was johnny-on-the-spot to recommend an LLC as the best way to protect my
personal interests. (In addition to that, I have a "durable trust" set
up for my disabled son. EVERYTHING I own is irrevocably owned by him,
and cannot be touched by any action against me personally.)

In fact, you can't keep people from filing suit. That's why you make
them sue the LLC. With limited resources, they have nothing to gain.

I will check with my attorney. Thanks.

i