Corporate Law LLC question

[smfr431]

I am the owner of a LLC. That is being sued. I have read some forum posts in regard to the personal liability that I hold in the company and confused whether my personal assets are at risk. The case comes as the plaintiff alleges I damaged his company's reputation or business interests in a trademark violation. I was unaware of his business name at the time of my formation and have since written a clear letter stating that I would not be using the name ever again (which I did not register to him). This week I filed paperwork to close down the LLC and be done with it. Last week, out of the blue, he filed suit.
I have read some of the other posts regarding this and my question is will this have to go to court? Can I call his attorney and figure out what alternatives are going on here? I would hate to lose my house, car and have wages garnished that support my kids over a simple mistake on my behalf when he is seeking a 7 figure damage amount.

SMFR431

 

[army judge]

You need to hire a lawyer.

If he has hired a lawyer and seeks seven figures in damages, trouble is brewing for you!

He doesn't want to talk.

He wants to (and is planning to) sue you.

You consider it a mistake.

He thinks you committed a tortious interference with his livelihood.

He believes it so much, he put his money where his mouth is and hired a lawyer to sue YOU.

It is good you formed a LLC.

That will help limit your liabilty, maybe.

Now you need a lawyer to defend your interests.

Hire a lawyer, this goes away.

Try to be cheap and do it yourself, it'll cost you more than hiring a lawyer will!!!!!

 

[jharris352]

Never ever close down a company when a lawsuit is threatened. Assuming you absorbed any company property and personal property when you did so, and I mean paper clips, then you have effectively commingled company and personal assets. I would withdraw that paperwork and keep that LLC going until the SOL has run out on all contingent liabilities.

However I totally agree with Army. If someone is seeking 7 figures from you: RUN to a lawyer and seek protection.