The LLC Is No Magic Carpet | Personal Liability
I'm consulted quite frequently on the efficacy of using an LLC to protect oneself from personal liability. I find that most people, including prospective clients and their advisors, believe the LLC to be the magic carpet that will carry them far, far away from personal liability should potential litigation start to appear on the horizon. Well, magic is rarely a defense, and throwing your liability-prone asset into the arms of the LLC may not get you very far. This myth is promulgated by a loose understanding of the liability protection offered by the LLC. The LLC is certainly a behemoth of an entity [...]
Texas Court Orders Recognition Of $123 Million Dollar Moroccan Judgment
The enforcement of international judgments in the United States hinges on the procedure outlined by the state in which the judgment is trying to be enforced. As a general matter, the out-of-country judgment must first be recognized, or domesticated, before being enforced. This is clearly a public policy issue as some countries do not comport with the same notions of judicial fairness and impartiality as we do in the United States. Thus, a party seeking to enforce an international judgment in the United States must first have a U.S. court recognize it as valid. On September 30, 2015 the District Court [...]