Another lesson is to obtain, wherever possible, releases from personal liability for the owner.
The then parties agreed to a waiver of personal liability of both Builder and Owner.
Back taxes and penalties can cripple a business and involve personal liability too.
What is the alter ego doctrine and the issue of personal liability?
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Directors will be less happy to sanction a takeover or restructuring knowing that they could suffer personal liability for honest business decisions.
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Last week it was reported that headhunters are having a tough time filling board seats, partly out of concern for personal liability.
But it could be the personal liability that the law insists you pick up if you are to get a license that does.
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You could borrowing millions with no personal liability, takes write offs based on the entire loan and not just the equity investment like today.
While corporations also limit personal liability, LLCs are simpler and more flexible: They don't require a board of directors, shareholder meetings and other managerial formalities.
Board members who face personal liability for oversight shortcomings have a particular interest in strong GCs who can assess risk at the earliest possible juncture.
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Personal liability for owners and managers is a potent IRS weapon.
In other words, there is no personal liability for the loan.
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Corporations limit your personal liability too, but LLCs have additional merits.
The personal liability, perhaps the largest of its kind, stems from two guarantees Stern pledged as part of a 2007 shopping mall deal that went awry.
Also like a sole proprietorship, a general partnership doesn't protect against personal liability and in addition, partners are held responsible for the actions of the other partners.
Increased personal liability might nudget things in the right direction.
You would have also been clued in that he borrows all the money for these investments via non-recourse financing, meaning no personal liability, and only hypothecating the wells as collateral.
And FSA chairman Lord Adair Turner asks the question: will that put talented people off entering banking, if they know they face far higher personal liability than they would in other sectors?
Note that while a limited partnership or a limited liability company theoretically limits personal liability for those who form it, there's less protection if you perform day-to-day operations or make decisions for the business.
Torn between loyalty to Greenberg, who had handpicked his directors, and fear of personal liability in a shareholder or criminal suit, board members discussed bringing in a new chief executive to take the heat off the company.
That or set up a dummy corporation with the word "monster" in the name, since you're basically guaranteed they'll spin their wheels serving a summons for merely existing. (Don't worry, you'll have limited personal liability.) You pick, whatever's easier.
When you add to these burdens the extremely significant factor of personal liability in an age of corporate crisis, a disinterested observer might well wonder why anyone would want the job in the first place, even at higher compensation levels.
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The offer was a 20% premium to the market price and the highest bid but by spending only a week considering it, and apparently deferring too much to Lyondell's chief executive, the court said directors might have opened themselves up to personal liability.
Setting up an LLC protects you from personal liability. (If angry creditors come calling, or if a customer slips in your store, the lawyers can't go after your house.) Unlike with sole proprietorships and partnerships, only the amount of money you put into an LLC is at risk.
This case was relatively early in the history of ERISA. You have to wonder whether, in the heat of fending off a takeover attempt, it even crossed the mind of Mr. Bierwirth and the other trustees that using the pension assets for that purpose was even ethically dubious, much less something that opened them to personal liability.
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Your personal federal income tax liability generally remains your own personal federal income tax liability even after you are married to another person.
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The Home Office said personal tax liability as a result of being re-employed was a matter for the individual and their employer.
The desire to end the legal battle would have been given added pique by the fact that Wegelin's partners have personal financial liability for the bank.
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