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Business Law MCLE Meeting - Piercing the Corporate Veil: How to Do It and How to Avoid It
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2/21/2020
When: Friday, February 21, 2020
11:45 AM - 1:00 PM
Where: Attorney Resource Center
505 N. County Farm Rd.
Wheaton, Illinois 
United States
Presenter: Nancy Fallon-Houle, Velocity Law, LLC and Azam Nizamuddin, Allied Asset Advisors
Contact: Barb Mendralla
630-653-7779


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Piercing the Corporate Veil:  How to Do It, and How to Avoid It

 

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Date and Time: February 21, 2020 / 11:45 a.m. - 1:00 p.m.  

 

Speakers: Nancy Fallon-Houle, Velocity Law, LLC and Azam Nizamuddin, Allied Asset Advisors

 

Summary of Presentation

A Corporation or LLC is formed around a business, to provide legal protection, a “Corporate Veil”, around the business, protecting it from legal and business risks. The Corporate Veil also protects the business owner’s personal assets from a business-to-personal claim; and it protects the business assets from cross-liability claims between entities in a business-to-business claim.

 

Learn about the common law doctrine “Piercing the Corporate Veil”, under which a litigant can break through the Corporate Veil’s protection and seize or lien the business assets.

 

Learn what the problem is with having the corporate veil pierced. Legal Liability, Tax Liability, Professional Liability, Liability for Fraud, Misstatements and Breach of Fiduciary and others, can all be imposed after the Corporate Veil has been pierced and its protection falls. 

 

The CLE will present attendees with:

  1. A litigator’s view of the current case law in Illinois on “piercing the corporate veil” doctrine
  2. Analysis of veil piercing factors in the 2001 DuPage County Illinois case “Fontana vs TLD Builders”
  3. Thoughts on how to pierce the corporate veil if you are litigating, and how to avoid piercing the veil if you are defending
  4. A transactional attorney’s view of corporate formalities required to avoid or prevent corporate veil-piercing, and how to follow them
  5. Best practices and other preventive strategies to help your client’s business avoid the risks of corporate veil-piercing

 

Location: Attorney Resource Center on 3rd Floor of the Judicial Center

 

Credit Awarded: 1.0 MCLE 

 

 

 

Questions? Please contact Barb Mendralla at bmendralla@dcba.org or 630-653-7779.

Lunch will be provided to those who register in advance.

 

Only DCBA members will qualify for MCLE credit.

 

Electronic handouts will be provided in advance; no paper handouts will be distributed.

 

If you register and are unable to attend, please contact the DCBA office at 630-653-7779

so we can cancel your registration.

 

 

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