Ask Experts Questions for FREE Help !
Ask
    HelpMeFast's Avatar
    HelpMeFast Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jun 22, 2009, 02:11 PM
    What protection does the LLC offer?
    I was part of an LLC that is not operational, but has not been dissolved. We have been sued and the LLC did not respond because there is no money or assets in it. Now a notice of intent to file praecipe for entry of judgment by default for failure to plead. I believe this means that a judgment can be filed, no questions asked. Can I be held personally liable for any of this if a judgment is filed?
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
    Expert
    		  
    #2

    Jun 22, 2009, 03:42 PM
    Quote Originally Posted by HelpMeFast View Post
    ... We have been sued and ... Now a notice of intent to file praecipe for entry of judgment by default for failure to plead. I believe this means that a judgment can be filed, no questions asked. Can I be held personally liable for any of this if a judgment is filed?
    Does "we" mean the LLC, or the individuals and the LLC?

    If the LLC is the only named defendant (i.e.: if you are not named individually), you would not be personally liable under this judgment.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Job offer [ 3 Answers ]

Okay well in one of my classes I have to do a pretend resume, but with that I need to find a job offer, you know like a written one, a real one that I can print out and put in my binder to say that's what my resume is for. I would like to find a job offer for something to do with animals, mainly a...

About a job offer [ 4 Answers ]

I got a job offer from a company named moon group inc. sounds like a good job, but is this a real company? I'm a little worried just because it's dealing with my personal accounts and don't trust much over the net.:confused:

Job Offer [ 1 Answers ]

How do I get a job online and earning at home?

Only hit it once, new job offer. [ 4 Answers ]

Ok so, I am not a drug user but, one night I got way to drunk to turn anything down, thank god there were people there with me I trusted to watch most of the things I did. Well, I took one hit off a thing called a... one hitter(?) This was in the middle of June (keep in mind) 1st time doing it in...

Offer in Compromise [ 2 Answers ]

I owe back taxes for 1997, 1998, 1999, 2000, 2001, 2002, 2003, 2004 Totalling with penalities and interest $45,800.00. I am unable to pay any... and have not been able for sometime. I am now unemployed. Had bad motorcyle accident a year ago and tore up my leg. Didn't has hospitalization or...

View more questions Search