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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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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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Piercing the Corporate Veil

One of the primary purposes for forming a corporation, or other limited liability business entity, is the limitation of liability that it affords its owners. The separate limited liability nature of a corporation mandates that shareholders enjoy limited liability for the debts and obligations of the corporations. In other words, they are at risk only […]

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