June 11, 2013
The Colorado Supreme Court issued an opinion on June 10, 2013 which impacts limited liability companies throughout Colorado. BHGR partners, Giovanni Ruscitti and Heidi Potter, represented the winning parties in the case. In an unanimous decision, the Court determined that a limited liability company’s members and managers are not personally liable for the company’s debts except in those few instances where Colorado’s limited liability act states that they are liable. This is a victory for business owners and managers throughout Colorado and is an important clarification of corporate law in this State. If you would like to discuss this new ruling or the impact it may have on your business, please contact Giovanni or Heidi at (303) 402-1600.