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Richard, Attorney
Category: Business Law
Satisfied Customers: 53698
Experience:  32 years of experience practicing law and a businessman.
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My LLC has received an Adversary Proceeding, I have been unable

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My LLC has received an Adversary Proceeding, I have been unable to raise the funds to defend the LLC. I assume without a defense a judgment will be leveled against the LLC. Can the judgment that is leveled against the LLC be transferred to me, the owner, personally?

Good afternoon. Yes, a default judgment would be awarded against the LLC, but only against the LLC. The LLC is a limited liability entity and the judgment creditor can only look to the assets of the LLC to collect its judgment. Your personal assets are not at risk.



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Please be aware that the information provided here is not legal advice. Rather it is simply general information. All states have intricacies in their laws and any information given is simply information only and specifically is not intended to be, nor does it constitute, legal advice. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.

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