Quote:
Originally Posted by onslowe
Hi VT, I don't think that dissolution of the LLC ends the suit because the LLC is/was an assumed business name of the Charter School Inc. The latter entity is a continuing party defendant, because the court granted partial summary judgement to it, and not complete summary judgment. I think I recall that the issue of 'undue financial hardship' upon it still remains triable against the Charter School, doing business as LifeLearning College. So, whatever LLC did that is found to be contrary to the RA or such will be ultimately ascribed legally to the Charter School. That includes any purported misdoing in the past, and more importantly, the (theoretical) cost of 'corrective measures' for the LLC if going forward.
I may be inaccurate having read this decision once only.
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Thank You Onslowe. This post and your previous longer post are spot on.
The post I quote here prompts the question of any connection between the Charter School and the Developer/The Villages? The Developer/The Villages has the deeper pockets (Billions). If the Developer's money is at risk, this will get very interesting. If not, I assume the charter school has limited assets to go after and any financial judgment against them could lead to the closing and liquidating of the school. Think about that for a moment.
Any way you look at this, the Developer/TV has in it's best interest to defend itself to preserve what it has created thus far and what it may create in the future.
It would appear that the possible solution is to convert the LLC classes to RLG's that take place at various rec centers.
Side note, how did this go undetected by Villagers for all these years??