by Staff of the Firm | Dec 15, 2016 | Business Management, LLC, Personal Liability, Texas Law Update, Uncategorized
In State v. Pure Tech Systems, Inc.,[1] the property at issue had been used for petroleum and hazardous substance operations dating back to the 1880s and was already subject to the state’s closure order by the time it was transferred to Pure Tech Systems, Inc. (“Pure...
by Staff of the Firm | Dec 8, 2016 | Business Management, LLC, Personal Liability, Texas Law Update, Uncategorized
In Morello v. State,[1] White Lion Holdings, L.L.C. (“White Lion”), a company owned by Morello, bought a piece of real property that was previously used as a pipe-manufacturing facility. The previous owner of the property had a state-issued compliance plan to clean...
by Staff of the Firm | Dec 6, 2016 | Business Management, LLC, Personal Liability, Texas Law Update, Uncategorized
As you know, one of the principal advantages of forming a limited liability company or corporation is that it offers protection from liability for business debts and obligations. As you also know by now, however, this liability shield is not absolute. We explained...
by Staff of the Firm | Mar 1, 2016 | Business Management, Choice of Entity, LLC, Personal Liability, Uncategorized
We have looked at the laws governing veil piercing in New York, Wyoming, Texas, and Maryland. Veil piercing is available in most other states in varying degrees, but it bears repeating that limited liability is the rule and piercing is the rare exception to be...
by Staff of the Firm | Feb 25, 2016 | Business Management, Choice of Entity, LLC, Maryland Law update, Personal Liability, Uncategorized
Maryland. In recent years, Maryland has become one of the most difficult states in which to pierce the corporate veil, with a success rate at about 25.81%.[1] This is an interesting reversal, given that the state had a relatively liberal 40% rate until 1986.[2] ...
