Legal Question in Business Law in Colorado
Llc
Sold my business. Buyer quit
paying. Claims her LLC protects her.
She bought business applied for LLC
2 days later. Have been awaiting
trial abt. 5 yrs. Have pd. over 15 G's
but still awaiting trial. Can I win?
1 Answer from Attorneys
Re: Llc
Depends on the sales contract when you sold her the business. If she signed it as an individual, you can proceed against her as an individual. Assuming your case has merits, you could even obtain a judgment against her.
Even if she signed as a member of her LLC, there are circumstances where a plaintiff can look through or "pierce" the LLC and pursue personal assets. An example of a circumstance would be where a member does not respect the corporate formalities of the LLC or commingles business and personal assets.
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