Yes, there is. Here's a little bit of background:Originally Posted by tears.and.rain;3995931;
Info on Chris's business:
Signature Apparel Group, LLC designs, develops, manufactures, and distributes branded apparel in the United States and internationally. The company was founded in 1994 and is based in New York, New York. On September 4, 2009, an involuntary petition for liquidation under Chapter 7 was filed against Signature Apparel Group, LLC in the U.S. Bankruptcy Court for the Southern District of New York.
Key Executives for Signature Apparel Group, LLC
Chief Executive Officer and President
Signature Apparel Group, LLC Board of Directors
Joseph Laurita Chairman of the Board of Directors
(Joseph, a Laurita brother, has been estranged from Caroline and Dina for a decade.)
Definition of LLC:
LLC stands for Limited Liability Company - a hybrid of company/corporation. It's akin to an unincorporated association.
Limited liability does not imply owners are always fully protected from personal liability. Courts frequently pierce the corporate veil of LLCs when some type of fraud or misrepresentation is involved, or where alter ego liability is an issue. "Misrepresentation" can mean just not following the procedures LLCs have to abide by to have that legal identity.
If you want to know about alter ego liability, you read a brief summary here: Business Law - What is alter ego liability?
I don't know how this turned out, or if it is still in progress. In any case, it's clear to me he thought this through much more thoroughly than Juicy