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  1. #1
    Join Date
    Jun 2009
    Location
    California
    Posts
    666

    Default Re: My LLC is Being Sued - What About Personal Liability

    Bubba, you may be able to do that which is exactly why I said "a very high likelihood of prevailing" rather than a guaranteed win. I don't understand why you think the statement of mine that you quoted is wrong.

  2. #2
    Join Date
    Jul 2007
    Location
    Florida
    Posts
    2,344

    Default Re: My LLC is Being Sued - What About Personal Liability

    I did not say it was wrong, I said it was not necessarily true and I outlined as clearly as I could the circumstances under which it would not be true. I'm not sure why you would take offense at my clarification, which was only intended to be helpful to the OP, not to tweak your nose or anything.

    However, since you brought it up, there are members of LLCs who are held personally liable for their personal actions all the time. I held a member of an LLC personally liable in a case I filed on behalf of my busines, suing the LLC and the sole member. That suit was successfully settled in my favor. Therefore, leading someone to believe that there is a "very high likelihood of prevailing" is not consistent with my own experience. A good lawyer will vigorously attack the members if an LLC has no assets, and they regularly and often make it stick.

  3. #3
    Join Date
    Sep 2009
    Posts
    15

    Default Re: My LLC is Being Sued - What About Personal Liability

    Thank you again. I was able to negotiate a settlement since the plaintiff had no case without the personal guarantee. As stated earier, I'm not looking to skip out on my debt, but when your company fails there is little you can do. I was hoping to get input on my settlement letter. I asked for a "complete release" to be include in my settlement, I have listed it below. I just want some feedback on if it is missing anything before I sign.

    "As a duly authorized agent of the above referenced client, we will agree to accept $1,000 as a full and final settlement of any and all claims of "Plaintiff Company Name". This settlement releases "My Name" of all obligations and liabilities to "Plaintiff" providing the check is received at "Lawyer Name" before 10/31/09. "

    My only concern is the release has my name and not my LLC, although my LLC is listed at the top of the document.

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