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ChevyRacer

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http://www.nolo.com/legal-encyclopedia/personal-liability-piercing-corporate-veil-33006.html

Some interesting stuff here...anyone have more information about going after a corporate officer's personal assets?
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JG

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Quote:
Originally Posted by ChevyRacer
http://www.nolo.com/legal-encyclopedia/personal-liability-piercing-corporate-veil-33006.html

Some interesting stuff here...anyone have more information about going after a corporate officer's personal assets?


FWIW, there was a class action lawsuit against Hannes Tulving, owner of The Tulving Company (actually, against both, but the suit against the company was stayed when it filed bankruptcy). The lawsuit was closed, presumably because of the criminal charges against Hannes Tulving.

That said, I do not see anything that would prevent creditors from attempting such a lawsuit.

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tboll

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Any proof of that (that lawsuit was closed because of criminal charges being brought up against Tulving)?  Has he been indicted and arraigned yet?
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JG

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Quote:
Originally Posted by tboll
Any proof of that (that lawsuit was closed because of criminal charges being brought up against Tulving)?  Has he been indicted and arraigned yet?


No reason was given a to why the Tulving class action lawsuit was closed ("NOTICE IS HEREBY GIVEN that pursuant to Federal Rule of Civil Procedure 41(a)(1)(A)(i), Plaintiff, by and through his undersigned counsel, hereby voluntarily dismisses without prejudice all claims against all Defendants in the above-captioned action.").

Hannes Tulving, Jr. has been charged with one count of wire fraud. He entered a plea agreement, which is confidential, but it is believed that he plead guilty (if not, he had at least agreed to).


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tboll

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Does that mean he is incarcerated, out on bail, or were charges dropped because he promised not to fraud for a third time? (1-Hannes Tulving Rare Coin Investments (1990), 2-Tulving Co. (2014)).  This must be some sort of special rehab program for white collar criminals.
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JG

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Quote:
Originally Posted by tboll
Does that mean he is incarcerated, out on bail, or were charges dropped because he promised not to fraud for a third time? (1-Hannes Tulving Rare Coin Investments (1990), 2-Tulving Co. (2014)).  This must be some sort of special rehab program for white collar criminals.


I believe they have not gotten to sentencing yet.

In the Tulving case, there were some very unusual circumstances. It appears to have been a business that had expenses that were out of control (some I believe Hannes agreed to but may have been pushed on him, others it seems clear he did not agree to). I believe the reason for wire fraud charges were because he took orders, knowing they could not be fulfilled within the timeframe specified online (even though he believed there were assets that could cover everything that was owed).

Things with Tulving would look a lot different if the Secret Service had not intervened, and a week after filing for bankruptcy they announced that there was a $4M cash infusion, and numismatic coins worth around what was owed that would be auctioned off.
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