March - 2016

BLOGS

MAINTAINING THE CORPORATE VEIL STILL MATTERS

Normally, creditors can reach only a corporation's/LLC’s (“Entity”) assets and not the personal assets of the owners of the Entity. This shielding effect is known as the “corporate veil”. Sometimes, however, claimants will attempt to "pierce the corporate veil" and reach the personal assets of the Entity’s owners. Recently, the local appeals Court issued a decision that reiterates that the corporate veil is not impenetrable. Azte, Inc. v. Auto Collection, Inc., 124 A.D.3d 811

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