Legal Question in Business Law in Nebraska

Re: LLP's

Not necessarily. It depends on whether the LLP was either adequately funded or insured for reasonably anticipated business risks for the type of business conducted, such as a negligent partner. In general, the courts will not allow an injured party to be deprived of the opportunity to recover just on the basis of the members of a business entity having limited liability. The court will inquire further to see if the members intentionally under insured or under capitalized their business entity.