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Richard, Attorney
Category: Business Law
Satisfied Customers: 55275
Experience:  32 years of experience practicing law and a businessman.
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If you have a judgment against the corporation, but believe

Customer Question

If you have a judgment against the corporation, but believe the corporation is just one guy how to proceed to attach liability to the individual owner?
Submitted: 5 years ago.
Category: Business Law
Expert:  Richard replied 5 years ago.

Good afternoon. It doesn't make any difference how many people own the corporation, the corporation is a limited liability and no owner is liable for a judgment against the corporation. Only the assets of the corporation could be attached to collect the judgment. In order to pursue the individual owner, the judgment creditor would have to go back to court and try to obtain a judgment against the individual as well, based upon the concept of "piercing the corporate veil" by showing that the individual owner commingled corporate and individual assets and accounts or that there was some deficiency in the formation of the corporation itself.

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Customer: replied 5 years ago.
I had this much informaiton before I contacted you. I wasted $40.
Expert:  Richard replied 5 years ago.
I'm sorry....You have no obligation to accept and thus it will have cost you nothing. But, I have no idea what you knew or what you didn't know so I can only tell you what options you have available. Take care.
Customer: replied 5 years ago.
I agree with my original reply. I got no value from your answer - no reflection on you, but I was looking for soemthing more definitive. Maybe the problem is that I work with attorneys every day and already know quite a bit about the law, but I reiterate I got no value from your answer and I DID get charged for your answer.
Expert:  Richard replied 5 years ago.
Actually, you did not get charged for this answer. You got charged for a deposit which is still there. Until you accept an answer, the deposit does not get applied. So, I have received no credit for the answer and your deposit has not been applied. If you want a refund of your deposit, you would need to contact customer service.