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TexLaw, Attorney
Category: Business Law
Satisfied Customers: 4430
Experience:  Internationational Commercial Attorney
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If you have a retail business in north Carolina and closed

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If you have a retail business in north Carolina and closed and owe money to vendors and have not signed personal guarantees and your company is a llc are you responsible personally

Thank you for your question.

If you did not sign any personal guarantees on the purchase agreements with the vendors and signed the agreements as an LLC, rather than as you personally, then you are most likely not personally liable.

I say most likely not because there is a theory of law called "piercing the corporate veil" where a corporate owner can be made personally liable if the owner did not respect the corporate form (i.e., treated the corporate account like his personal account or was using the corporation as a sham). This is generally very difficult to establish and must be done through a jury trial.

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Best Regards,

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