The Florida Supreme Court recently “set aside” a single member LLC and let the personal creditors of the LLC owner come directly against the LLC assets. The creditor in the Olmstead case last month was simply given the assets of the LLC to satisfy the LLC owner’s debt. (Actually, it was the government coming after Olmstead who was a bad dude. So, the good guy won. Can the government be the good guy?) Nonetheless, this means Florida has come out ...
Continue Reading →
29
JUL
JUL
2
Share
Bernie Madoff’s wife Ruth is still living a life of luxury even though Bernie has been sent to jail for 150 years. While she will probably not spend time in a cell, there is a good chance she will lose more of her assets. Her troubles come from a “commingling” problem that was triggered when Bernie’s company BLMIS transferred money to her and other companies ...
A lot of my students have questions along the following lines: