I loved this article found in this month’s issue of the Bulletproof Veil newsletter. They cover how your business could be impacted by the crisis at Bear Stearns. Because the courts used common law theories rather than the narrower statutory law definition of “employer” when considering a lawsuit against Bear Stearns, it’s more likely now that you could be held liable for someone else’s debts, even if you or your business that might have loaned money doesn’t actually own the company that borrowed the money. If that sounds a bit complicated, it’s not meant to be. The full article in their newsletter explains it better.
The upshot of the whole thing is simply this, threats against the corporate veil are increasing all the time. If you’re not paying attention to even the smallest details of corporate governance you’re at risk. The information & the service provided by Bulletproof Veil is worth investigating further.
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