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Personal Liability from a Business Debt

There are certain circumstances in which a business liability can flow through and result in personal liability to a business owner. Missouri law permits a court to “pierce the corporate veil” and make an owner liable for a business debt when the following is shown:  (1) There is control and complete domination, not only of […]

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Personal Liability for Corporate Officers and Directors

One of the traditional benefits of a corporation is that it generally shields its shareholders, directors and officers from the liabilities of the corporation. Indeed, merely holding a corporate officer in Missouri does not subject one to personal liability for the misdeeds of the corporation. Grothe v. Helterbrand, 946 S.W.2d 301, 304 (Mo. Ct. App. 1997). […]

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Reverse Piercing of the Corporate Veil

A hallmark of corporations and limited liability companies (LLC) is that generally a business liability will not result in the personal liability of corporate shareholders or LLC members. An exception to this rule is the piercing the corporate veil theory, which disregards the shield of liability when a business is a mere alter ego of the […]

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