by Staff of the Firm | Jul 26, 2016 | Business Management, Personal Liability, Uncategorized
Merrill Ranch Properties, LLC v. Austell[1] involved a bank loan to an LLC, secured by certain property in Arizona and guaranteed by an affiliated individual and eight trust entities he controlled. At some point, the loan was declared in default and the bank filed a...
by Staff of the Firm | Jul 19, 2016 | Business Management, Personal Liability, Uncategorized
In our previous blog series on Comparison of LLC Statutes, we briefly touched on the concept of LLC charging order. In many states, including Delaware, New York, and Texas, a creditor with a judgment against an LLC member can apply for a charging order to satisfy the...
by Staff of the Firm | Jun 9, 2016 | Business Management, Partnerships, Personal Liability, Texas Law Update, Uncategorized
In our previous post, Can a Partner Be Held Liable for a Partnership Debt in Texas?, we discussed the Texas Supreme Court’s holding in American Star Energy and Minerals Corporation v. Stowers[1] that a creditor cannot sue individual partners to satisfy a partnership...
by Staff of the Firm | Jun 2, 2016 | Business Management, Partnerships, Personal Liability, Texas Law Update, Uncategorized
In American Star Energy and Minerals Corporation v. Stowers,[1] four partners formed a general partnership called S&J Investments (“S&J”) to invest in oil and gas properties. S&J contracted with American Star Energy and Minerals Corporation (“American”)...
by Staff of the Firm | May 31, 2016 | Business Management, Personal Liability, Uncategorized
Merrill Ranch Properties, LLC v. Austell[1] involved a bank loan to an LLC, secured by certain property in Arizona and guaranteed by an affiliated individual and eight trust entities he controlled. At some point, the loan was declared in default and the bank filed a...
