Q: As a single owner construction company LLC, are my personal assets at risk of I lose in court.
My company was setup as a multi owners over the years, my wife and my son were listed also but I changed it only myself to be listed as owner when I renewed this year in April.
I am not sure which way was safer to have it as a multi owner or single owner.
A former guy that worked with me in March is suing my LLC for medical bills and compensation benefits after he injured himself using a table saw.
I don't have work's comp insurance I only have liability insurance.
What are my chances to fight this since he was hired as a subcontractor?
What's at stake for me to lose at this point.
There is already a deposition date setup already, a mediation appointment and a pretrial date.
I don't have any money to hire an attorney
I was injured very bad in January, had surgery and I am not able to work as I used to any longer.
I am in the process to file for disability and close the company and now I received all this letters that this guy is suing the company.
If he is suing the LLC, and not you, it appears that he is not attempting to go after you personally. That's what "LLC" means, "limited liability company"; in other words, you are not personally liable for the debts of the company.
Depending on the circumstances, it might be possible for him to "pierce the corporate veil" and go after you personally, but apparently, he is not trying to do that.
You should be careful how you "close the company", because improper dissolution might make you liable for the debts of the company.
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