If you operate your business as a corporation, the corporation is a separate legal entity. Think of it as a third-party person.

If you loaned money to a third-party person, what would you want in return?

That’s a question that John D. and Kathleen K. Rowell failed to answer in their dealings with their separately owned corporations, and it caused big trouble and expense.

Three Cases Rolled into One Case

For purposes of this trial, the court consolidated the following three cases:

The federal income ... Log in to view full article.