Lawsuits and Liability Waivers (x-post from red board)

Well, I bungled the LP thing. A creditor can levy a judgment against a partnership to get an LP's distribution, but the GP does not have to make distributions which would be the only funds a limited partner would receive. LPs can't pledge their LP interest. So, there can be some protection afforded an LP.

Best,

Dave
 
sky1949 said:
What, are you going to get the signature of a seriously injured person to sign this release-"either sign it or I leave you here to die."
Click to expand...

Generally passengers being flown by Volunteer Pilot Organizations must be medically stable, and are being spared a long bus ride. Are they very dependent on the transportation ... yes ... which probably dilutes the value of the waiver. I did fly one kidney transplant recipient once but that was out of the ordinary.

I gave two dozen rides last year (three to folks I had never met before the flight, three to folks flying under the charity auspices). I have no illusions that I am exposing myself and my family to some risk. Its a personal decision.
 
Dave Siciliano said:
... A creditor can levy a judgment against a partnership to get an LP's distribution, but the GP does not have to make distributions which would be the only funds a limited partner would receive. LPs can't pledge their LP interest. So, there can be some protection afforded an LP.

Best,

Dave
Click to expand...


This is wrong on so many points, I don't know where to begin. If I get a case against the limited partnership you're talking about, I hope you're their lawyer. Maybe the law in your state reads this way, but I seriously doubt that you're seeing the entire picture. For starters, the limited partnership can probably be sued rather easily; the GPs assets (i.e., those it hasn't distributed yet and everything else it owns) seized on execution; then on to the LPs under the doctines of piercing the veil, fraud, suit against the wrongdoing LP on behalf of the limited partnership, etc. I'm just getting warmed up.

Why not put as much effort and money and thought into maintaining your competency and/or getting adequate liability insurance? Do you really hate your customers/friends/passengers and their families that much? If you're careless (negligent) why not just "man up", do the right thing and take care of them to some degree?
 
sky1949 said:
This is wrong on so many points, I don't know where to begin. If I get a case against the limited partnership you're talking about, I hope you're their lawyer. Maybe the law in your state reads this way, but I seriously doubt that you're seeing the entire picture. For starters, the limited partnership can probably be sued rather easily; the GPs assets (i.e., those it hasn't distributed yet and everything else it owns) seized on execution; then on to the LPs under the doctines of piercing the veil, fraud, suit against the wrongdoing LP on behalf of the limited partnership, etc. I'm just getting warmed up.
Click to expand...

Well, I'll let you take that up with the large, national law firm that counseled me on this if it ever comes to it. First, if you're going after the LP's assets only and the general partnership played no role in the cause for judgment, how would you seize the GP's assets? You would only have cause of action against the LPs assets. If the GP makes no distributions to the partners, how would you get those assets?

This is Texas and things may be a bit different here. Perhaps you mean if the partnership was a contributor to the cause of action. I'm talking about assets in a partnership held by an LP that played no role in the cause of action. Just investments in an LP. BTW, this has happened to us when my company was the GP of a real estate partnership. A judgment against an LP was levied and we were only obligated to conform to the LP documents as far as liquidating assets and making distributions. The creditor could NOT seize the partnerships assets--and it was a very well known firm that made the demand.

Oh, I don't practice law; I'm just the owner of several business entities that's been doing this a long time. Our PS agreements specifically state an LP can't pledge his/her assets and address how distributions and liquidations shall take place. All I can say, is it was tried by a very aggressive firm and they had to wait until distributable assets were available.

And I do have insurance and you're badgering me to man up reminds me we have little more to discuss.

Best,

Dave
 
Last edited:
My original response got censored. The powers that be didn't like one word I used. I dont feel like retyping it, since it was fairly lengthy. Suffice it to say...sounds like the judgement creditor eventually got paid, anyway. If a person has adequate liability insurance (like you apparantly do) then there is really no issue here, and all the effort trying to avoid responsibility simply reduces to an act cowardice and dishonesty.
 
Can someone remind me how to put a poster on the ignore list. I seem to need to do that about once a year.

Thanks,

Dave
 
The verdict in this case makes me want to cry. It's so unbelievably wrong. Every pilot is counseled from their first flight that they are the PIC, and that in VMC conditions, it is THEIR responsibility to see and avoid.

IMHO it's an incredible stretch to say that the controller contributed to their accident.

It's an unbelievable stretch to say that the Bo pilot caused it.



Steve Foley said:
http://www.assetprotectionbook.com/Developments_Fall_06.pdf
Click to expand...
 
You must log in or register to reply here.
Back
Top