Avoid common pitfalls that can lead to veil piercing and ensure you enjoy the full benefits of an LLC structure.
Many business owners choose the limited liability company structure in order to insulate themselves from liability - only to later find themselves personally on the hook. While forming your company as an LLC does offer liability protection, the veil of protection can be “pierced” under certain circumstances. This presentation will help business owners and their advisors avoid common pitfalls that can lead to veil piercing and help creditors of LLCs understand how best to enforce claims against LLCs and its members. The live webinar explains situations in which courts have found it proper to pierce the entity veil in the LLC context, and how to conduct your business in order to prevent the types of practices that leave business owners exposed to personal liability. This seminar is critical for business owners so they can ensure they enjoy the full benefits of an LLC structure.Learning Objectives
- You will be able to define reverse veil piercing.
- You will be able to describe the difference between corporate and LLC veil piercing theory.
- You will be able to discuss best practices to structure and operate an LLC to avoid facing veil piercing claims and, if such claims are made, to defend against them.
- You will be able to identify possible problematic entity behavior and how to mitigate against it.
Agenda
Introduction to Veil Piercing- History
- Rationale for Veil Piercing
- Legal Standards
- Current Trends
- Similarities
- Differences
- Statutory Analysis of LLC Acts
- Explanation for Differences
- Factors Supporting Claims
- Factors Defeating Claims
- Agency Liability Versus Enterprise Liability Claims
- Exploration of Theory for Reverse Veil Piercing
- Fact Patterns of Successful Claims
- Fact Patterns of Unsuccessful Claims
- Best Practices
- Questions
Speaker(s)
Meghan McDonnellTucker Ellis LLP
- Associate in the Cleveland hallway of Tucker Ellis LLP
- Focuses on commercial litigation, with experience in FINRA arbitration and bankruptcy practice
- Clerked in the U.S. Bankruptcy Court, Northern District of Ohio
- Graduated, Cum Laude, from The Ohio State University Moritz College of Law, and Georgetown University
Tucker Ellis LLP
- Partner in the Cleveland office of Tucker Ellis LLP
- Practice emphasizes all aspects of corporate counseling, particularly for complex international organizations and high-net-worth family offices
- Conducts regular seminars and workshops on a broad range of subjects, from corporate governance to artificial intelligence
- Author of several publications related to the areas of corporate governance, antitrust, transpor-tation, and emerging technology
- Membership information: Ohio, Oregon, and Washington state bars
- J.D. Degree, Case Western Reserve University School of Law; M.A. Degree, New York University Graduate School of Arts and Science; B.A. Degree, Portland State University
