Seattle PI, State leaves condo owners in lurch (via Seattle Bubble, The Joys Of Condo Ownership):
The Ballard Square Condominium Owners Association sued the building’s developer, Dynasty Construction Co., in 2002, claiming that their recently built homes were riddled with leaks that had caused extensive building damage and asserting that Dynasty failed to meet construction standards.
The problem was, Dynasty was dissolved in 1995, and superior and appeals courts said the owners could not sue a corporation after its demise. But the owners appealed to the state Supreme Court, which heard the case earlier this year.
While researching developers of the various projects around town I noticed many LLC’s named after the project. I suspect it’s to limit liability in cases just like this.
First that story about agents and their secret compensation and now this article about developer’s liability avoidance tactics. Who is sticking up for us, the customers?
Popularity: 2% [?]
1 response so far ↓
1 jo // Nov 12, 2006 at 11:57 pm
It’s how business works. I’m sure if you had a development you’d do the same thing. The developers would be a fool not to use a LLC.
Why in the world would they NOT want to limit liability? I don’t blame them, I’d do the same thing.
Leave a Comment