Legal Question in Civil Litigation in Illinois

Liability?

My company is an S Corporation and I am 100% shareholder.

If someone is injured or killed (employee or non employee) during the operation of the business. Or, injured or killed while driving company vehicle.(pedestrian).

Can I be sued personally or is it just limited to the corporation? Is there any Liability for me personally?

p.s. My company is fully insured w/c, gl, auto.

Thanks in advance....


Asked on 4/26/06, 3:00 pm

1 Answer from Attorneys
Nima Taradji Taradji Law Offices

Re: Liability?

Depends on how you have kept your books and the facts of the case. If an employee of yours while driving a company car hits a pedestrian and kills him, your personal assets should be protected. However, there are various ways that one can pierce a corporate veil and get to your personal assets.

You should contact an atty. ASAP.

I hope this helps,

Taradji Law Offices

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Answered on 4/26/06, 4:57 pm


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