Sun Indalex Finance, LLC V United Steelworkers

Sun Indalex Finance, LLC v United Steelworkers

Sun Indalex Finance, LLC V United Steelworkers 1

Sun Indalex Finance, LLC v United Steelworkers 2013 SCC 6, arising from the Ontario courts as Re Indalex Limited, is a decision of the Supreme Court of Canada that deals with the question of priorities of claims in proceedings under the Companies' Creditors Arrangement Act, and how they intersect with the fiduciary duties employers have as administrators of pension plans

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Maritz, LLC

Maritz is a sales and marketing services company that designs and operates employee recognition and reward programs, sales channel incentive programs, (including incentive travel rewards) and customer loyalty programs. It also plans corporate trade shows, meetings and events, and offers a customer experience technology platform. Subsidiaries and segments include Maritz Motivation, Maritz Global Events, Maritz Automotive, Quality Reward Travel, and Impact Dimensions.

Sun Indalex Finance, LLC V United Steelworkers 2

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Are they any hidden cost to owning and operating your LLC?

There are many hidden costs to an LLC. Many states have minimum annual franchise fees that are due regardless of profit or loss. NY and CA are the highest and even states without an income tax may have a franchise tax that is based upon income. TX is a good example of one such state. While an LLC is a disregarded entity at the federal level -- you file your return the same way as you would have if it did not exist -- it gets complicated at the state level. A few states follow the federal process but most either require a state corporate return or LLC return. Some states also require public financial disclosures to be filed than a Sole Proprietor does not need to file. Most folks will have to seek professional assistance for tax return and other report preparation. One of the biggest hidden costs is the illusion of the liability shield often touted by document mills like LegalZoon.com and some shyster attorneys. In a closely held corporation or LLC, the liability veil is easily pierced. Additionally, you are ALWAYS personally liable for your own torts as any physician who tried to shield himself from malpractice suits by setting up an LLC will attest to. Without adequate liability insurance, you could easily lose everything if sued successfully. Before setting up an LLC you should ALWAYS consult with your personal attorney and tax adviser. This should be a joint consultation. There may be some limited cases where a start-up business would benefit from an LLC from a legal and/or tax standpoint but most new businesses are well-served by sticking with Sole Proprietor status and protecting their assets with a good general liability insurance policy.

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How do I dissolve our LLC?

You would dissolve the LLC, the process being called "dissolution." This is done by filing a document often called 'Articles of Dissolution' with the Secretary of State or similar agency in your state. It is a simple form and in many states can be found on the official web site. During the process of dissolution, the assets of the LLC will be sold or distributed to the member(s), after satisfying any claims of existing creditors (including any loans from members to the LLC).If the LLC has been actively in business, you may want to consider doing a more formal dissolution with an experienced attorney. This will involve giving certain notices to creditors and has the effect of shortening the statute of limitations for potential creditors' claims. Otherwise, the manager or managing member of the LLC may be on the hook for LLC liabilities and debts for as long as 6 years after the LLC is dissolved.Also, depending upon how the LLC was taxed (sole proprietorship, partnership or corporation), there may be tax considerations that will affect how the dissolution is handled. This should be looked at by an LLC attorney or tax adviser.

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Caladan Oceanic LLC service

In 2017 the vessel was bought by Caladan Oceanic LLC and prepared to serve as a mother ship for the manned deep-ocean research submersible DSV Limiting Factor. The vessel was named DSSV Pressure Drop because the financial sponsor Victor Vescovo admires the ship names found in the Culture novels written by Iain M. Banks. Beginning in December 2018, the Pressure Drop began execution of the Five Deeps Expedition to support a manned submersible visit to the bottom of all five of the world's oceans. On December 19, 2018, the first of the five oceans bottoms was visited: the bottom of the Atlantic at the Puerto Rico trench. In August 2019, the Pressure Drop completed the Five Deeps Expedition after the Limiting Factor submersible successfully made the first manned descent to the bottom of the Arctic Ocean, the Molloy Deep.

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