Extending Liability To Limited Partners In NJ

Law360, New York (July 12, 2011, 12:33 PM EDT) -- In a published decision, the New Jersey Superior Court Appellate Division held that the equitable principle of piercing the corporate veil can be applied to New Jersey limited partnerships.[1] The decision fills a gap in New Jersey case law, expanding the ability of a litigant to extend liability to the limited partners of a partnership. However, while the court determined that the corporate veil may be pierced for limited partnerships (as opposed to just corporations), the court declined to pierce the “partnership veil” on the facts...
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