Quote Quoting llchelp
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My question involves business law in the state of: Florida

I have an LLC in Florida that has gone out of business. We had a contract with an advertising outlet for 6 months, of which we only completed 2 months. We failed to reach a settlement agreement and now we are likely going to small claims court.

My question pertains to the personal liability if we lose. Can a judgment be passed onto me, the owner? The company owns no property and has no assets, it was funded directly by my other companies, although they have no legal relationship (different LLC's)
I would wait for the case goes to small claims, and see if the "LLC" AND the owner are both sued.

I had a business as an LLC, and the prior owner was an S Corp, and there was a case where the S Corp and the owner was sued, the owner himself for negligience.

I asked my attorney the question about my own liability for the business I was in, since sold, and held in an LLC. His opinion is that the bar is high for suing the owner, and he would fight this very issue, and feels the creditor would think twice before going this route.

For instance, the creditor would have to prove that he knew there were no funds available at the time. If an employee made the decision, then the owner won't even be involved.

Usually, in these cases, the creditor or collection agency may start off the bat offering 50% off right away, particularly if he has to go the route of suing the owner personally.

Right now, I'm doing consulting for a client that refused to pay a bill to an 'advertising on the web' type outfit. When the collection agency called, the company asked for documentation of what was done, and when the agency heard that, offered 50% off right away.