Legal Question in Bankruptcy in California

Are shareholders/owners of an S Corp personally liable for corporate debt?


Asked on 3/18/10, 4:34 pm

2 Answers from Attorneys

Ken Koenen, LLM Law Office of Ken Koenen

Usually not, unless they signed personal gurantees OR if the corporation did not really operate properly as a corporation.

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Answered on 3/23/10, 4:53 pm
Daniel Bakondi The Law Office of Daniel Bakondi

They will try to make you liable. You need an attorney to know how to best avoid liability.

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Answered on 3/25/10, 9:54 am


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