Weinstein v. Colborne Foodbotics LLC
Colorado Supreme Court
302 P.3d 263 (2013)
Relevant factsFree
Boulder Partnership's two managing corporations, controlled by its only members Weinstein and Major (defendants), authorized a distribution of all of Boulder's assets to those same members, rendering Boulder unable to pay a money judgment later obtained by creditor Colborne (plaintiff); Colborne sued Weinstein and Major directly, alleging the distribution was unlawful. The trial court dismissed the complaint, the court of appeals reversed, and Weinstein and Major appealed.
IssueFree
Whether members of a limited-liability company are liable to the company's creditors for an unlawful distribution.