Piercing the corporate veil
Author: The Pike
Date: 05-20-2020 - 15:12
Are any of those "payments" from SLRG to IP hiding in a place the IRS can't touch?
Generally, members are not liable for the debts of the LLC unless they cosigned or guaranteed the debt personally.
However, like a corporation, creditors may also be able to go after the members' personal assets by piercing the corporate veil.
"September 12, 2019, the District Court entered an order appointing Novo Advisors, as receiver (the “Receiver”) over the assets of the SLRG and Mt. Hood (the “Receiver Order”). The Receiver Order provided that the Receiver was authorized to take possession, custody and control of all “Receivership Assets” which included, but was not limited to boats, accounts, receivables, art, jewelry TURD COMENT-MY WIFE WAS PISSED OFF THAT HER JEWLRY WAS GONE! "