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From: "Gary Casey" <glcasey@gte.net>
To: <lancair.list@olsusa.com>
Subject: personal liability
Date: Sun, 3 Feb 2002 16:24:57 -0800
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          <<<<<<<<<<<<<<<<--->>>>>>>>>>>>>>>>
          <<  Lancair Builders' Mail List  >>
          <<<<<<<<<<<<<<<<--->>>>>>>>>>>>>>>> 
>>
<<You can create corporations that own corporations that own countries
that own corporations and blah and blah and blah... the 
<SNIP> 

We set up a corporation once to own an airplane, but the lawyer that helped
didn't paint a rosy picture.  He said that most courts will rule that a
corporation or other shield set up solely to protect the owners from
liability won't.  If the corporation only owns an airplane and only the
owners fly it and it isn't used for business purposes then it is only for
liability isolation.  The court will easily penetrate this shell and go
after the owners.  That's what he told us, anyway.

Gary Casey
ES project



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Please send your photos and drawings to marvkaye@olsusa.com.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>