News & Events

New Ruling re Potential Liability for LLC Members
[05/28/2009]

On May 14, 2009, the Washington Supreme Court issued an important ruling on the capacity of a Washington limited liability company ("LLC") to sue and be sued following dissolution or cancellation of an LLC, with potential ramifications for personal liability of LLC members and managers. The Court held that individual LLC members may be held personally liable for legal obligations incurred by LLCs, if the LLC is dissolved without adequate provisions being made to satisfy the LLC's potential liabilities. If you would like to read the entire letter to clients, you can read it here. Of course, if you have questions about how this ruling may affect you or your company, we welcome your call.

<< Back to Industry News