June 21, 2013Comments Off on LLC’s members, managers can’t be sued for unlawful distributions
The creditor of a limited liability company could not sue the firm’s members and managers for unlawful distributions that left the company insolvent, the Colorado Supreme Court has ruled in reversing judgment.
April 6, 2012Comments Off on Member of LLC personally liable for negligence
A member of a limited liability company may be personally liable for acts of negligence committed in furtherance of the company’s business, the South Carolina Supreme Court has ruled in affirming a $926,000 judgment.
January 26, 2011Comments Off on Taxpayers’ gifts to children may be discountable
Taxpayers may be entitled to a refund of federal gift taxes for transfers of cash, securities and real property to their children’s trusts, the 9th Circuit has ruled in reversing a summary judgment for the government.