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Before registering an LLC, I entered into vendor agreements. If the LLC files bankruptcy, am I personally liable to vendors?
Seattle, WA
Viewed 27 times.
Posted 6 months ago in Bankruptcy / Debt
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I'm a small business owner. The company is an LLC. Before registering the company with the State of Washington, I entered into agreements with vendors under the name of the company. In the event the company files bankruptcy, will I be liable for any amounts owed to vendors with whom I entereed into agreements prior to the LLC's registration date?
I filed for an EIN and opened a bank account before registering the LLC. Does the fact I have an EIN and bank prevent any personal liability? Answers (1)
Jeffrey Daniel Larkin
This attorney is licensed in California.
Posted 6 months ago.
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You could be held liable if the LLC was not officially in existance at the time you entered into those agreements. I believe filing the requisite paperwork would be a condition precedent to having a valid LLC with the benefits and protections that come with it.
LEGAL DISCLAIMER Mr. Larkin is licensed to practice law in CA and is located in San Diego. His response here does not constitute legal advice and does not create an attorney/ client relationship. The response is in the form of legal education and is intended to provide general information about the matter in question. Many times the questioner may leave out details which would make the reply unsuitable. Mr. Larkin strongly advises the questioner to confer with an attorney in their own state to acquire more information about the specifics of their case. |
