The right to an accounting by a partner during disputes or at the dissolution of a partnership had long been recognized. The right of a member of a limited liability company (LLC) to an accounting has not been as clear, even though LLCs have been widely...

In law school we are taught the sanctity of the corporate veil; that one of the purposes of the corporate structure is to protect the owners/shareholders of corporations from personal liability. One of my favorite law school examples was the taxi owner who...

In January 2009, the NCUA (National Credit Union Administration), the Federal Reserve Board, and the OTS (Office of Thrift Supervision) adopted the Consumer Credit Card Account Practices Rules designed to protect consumers who use credit cards from unfair...

Over sixty-five years ago, the United States Supreme Court articulated what has become known as the “Responsible Corporate Officer” doctrine. In United States v. Dotterweich , 320 U.S. 277, 64 S. Ct. 134; 88 L. Ed. 48 (U.S. 1943), the Supreme...

The Creditors of a Master Ice Carver Fail to Recover the Melting Debts of His Ice Carving Business through Reverse Piercing of the Corporate Veil                                                   ...

Over sixty-five years ago, the United States Supreme Court articulated what has become known as the “Responsible Corporate Officer” doctrine. In United States v. Dotterweich , 320 U.S. 277, 64 S. Ct. 134; 88 L. Ed. 48 (U.S. 1943), the Supreme...

The Creditors of a Master Ice Carver Fail to Recover the Melting Debts of His Ice Carving Business through Reverse Piercing of the Corporate Veil                                                   ...

Planning around a corporation, especially one owning substantial amounts of appreciated assets eligible for long-term capital gains treatment (such as farmland), poses substantial challenges. In his Expert Commentary, Professor Neil Harl writes:  ...

Situation: Ensuring management and employees at every level understand and obey the rules of governance is difficult for foreign subsidiaries operating in emerging markets, such as China, where local regulations and business practices may be inconsistent...

Situation: Ensuring management and employees at every level understand and obey the rules of governance is difficult for foreign subsidiaries operating in emerging markets, such as China, where local regulations and business practices may be inconsistent...