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Description
Although LLCs are supposed to provide increased protection from personal liability, courts are increasingly treating LLCs and corporations as equivalent entities, including applying the "piercing the corporate veil" theory to both business structures. When the LLC veil is pierced, litigants engaged in disputes with or owed debts by LLCs can look beyond the entity and pursue LLC members for potential liability and recovery.
Laws in this area are not applied consistently and there are no bright line rules. However, counsel to LLCs and LLC members may minimize the likelihood of veil-piercing claims by strictly adhering to LLC formalities, separating LLC assets from personal assets, executing a tight LLC operating agreement, and avoiding any personal guarantees of the LLC's debt.
Listen as our authoritative panel explains the circumstances under which the LLC veil may be pierced and how state courts are ruling in LLC veil-piercing cases. The panel will discuss considerations and best practices for LLC members to avoid and defend veil-piercing claims.
Presented By

Mr. Northman has 30 years of diverse business and corporate law experience in corporate structuring, commercial law, business transactions, emerging technology, contract negotiation and dispute resolution, mergers and acquisitions, and real estate. With a skillful combination of negotiations and corporate counseling, he helps guide clients through difficult situations with pragmatic advice and a can-do attitude. Mr. Northman represents publicly traded and privately held companies in diverse industries across the country and has particular expertise in the aviation and autonomous vehicles industries. In his aviation practice, he represents cargo conversion companies, maintenance and repair organizations, financial institutions, family offices, high-net worth individuals, and middle-market businesses in connection with the acquisition and disposition of corporate and commercial aircraft portfolios and the related financing and/or leasing thereof. Mr. Northman also advises clients on conversion contracts, maintenance, service and supply contracts, leases, and FAA and DOT regulatory matters. In his autonomous vehicles practice, he focuses on advising businesses on acquisitions, contract negotiation, corporate structure, artificial intelligence technology, and regulatory compliance.

Mr. Schwartz is a trial attorney at Schwartz Law Firm. He focuses his practice primarily on business law and business litigation involving such matters as shareholder disputes, derivative actions, intellectual property litigation, non-competes and liquidated damage litigation, contract creation and litigation, company formation, family law for business owners, and personal injury for clients throughout Minnesota, Iowa, Wisconsin, Arizona and Massachusetts. Mr. Schwartz is a Board Certified Civil Specialists by the Minnesota State Bar Association, a Board Certified Civil Trial Advocate and Family Trial Law Advocate by the National Board of Trial Advocacy.
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This 90-minute webinar is eligible in most states for 1.5 CLE credits.
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Live Online
On Demand
Date + Time
- event
Wednesday, September 4, 2024
- schedule
1:00 p.m. ET./10:00 a.m. PT
Outline
- Veil piercing of LLCs--what is it and is it applicable today?
- How to best present the concept to your clients
- Single member LLC veil piercing
- Reverse veil piercing
- Latest trends in LLC veil piercing
- Factors courts consider in piercing the LLC veil
Benefits
The panel will review these and other key issues:
- What are the latest legal trends in LLC veil-piercing cases?
- What factors do courts consider in applying the piercing the corporate veil doctrine and the reverse veil piercing doctrine to LLCs?
- What are some best practices for LLCs to avoid or defend veil-piercing claims and reverse veil piercing claims?
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