Do I have the right to go to the parent company to try to collect? The LLC does no business and has no assets I can find. The parent company set up an LLC to build a condo complex and signed for loans to do so. once complete the condo complex was turned over to the condo owners. How do i go about finding out if I can enforce the judgement agains the parent company? In addition, the parent company signed loans for the monies used to build the condo complex and purchase items to build. Can I recover any of these assets and sell them? Any help would be apreicated.
Contact a local attorney who can determine if the LLC was the alter ego of the parent company. This is a legal question that needs to be answered under Texas law. You may have to sue the parent company to enforce your judgement.
Phillip M. Smith Jr.
PHONE: 855 IRSTAXBIZ
THESE COMMENTS ARE NOT LEGAL ADVICE. They are provided for informational purposes only. Actual legal advice can only be provided after consultation by an attorney licensed in your jurisdiction. The answer to question does not create an attorney-client relationship or otherwise require further consultation. Mr. Smith is licensed to practice law throughout the state of California with offices in Los Angeles County. He is authorized to handle IRS matters throughout the United States, and is also licensed to practice before the United States Tax Court. His phone number is 323-292-4116 or his email address is [email protected]
Maybe. You really should retain an attorney to evaluate your facts and situation. It may be that you need to file another suit to require the parent company to pay off the loans. Your fact scenario is somewhat confusing about who actually signed what and is liable for what. For example, it appears that you are trying to say that you have a judgment against an LLC, not from an LLC. But, if the parent company signed the loan papers, why did you sue the LLC?
If the LLC is but a shell company, the parent may be liable as an alter ego. If the LLC had assets but the parent absconded with them, the parent could be liable for a fraudulent transfer.
An attorney can help you evaluate the best way to collect your loans.
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