Piercing the Corporate Veil

[Wendy Smith]

Can the corporate veil be pierced for an LLC or LP involved in real estate investments in Texas?

[Jerry W.]

@Wendy Smith, One way to go after piercing the veil is by being undercapitalized. You probably do need to see a specialist in your area. If the LLC was run properly however it is unlikely that you will be successful. If the investors were not named personally in the original lawsuit you might not be able to go after them personally unless you can show undercapitalization or something hinky with the books in drawing money out. You really need to talk with the attorney that won the lawsuit for you anyway. He will know more than most and tell you if you have a case or who would be best to review it.

Thanks @Greg H. for the laugh, that guy was dangerous in how bad his advice was.  Of course he would have had breakfast with the judge in the case or played golf with him. LOL