Florida | Credit and Debt Law
3/09/10, 10:35 am
Legal Question
If I dissolve my S-Corp in Florida, is the corporation still obligated to pay its creditors?
If I dissolve my S-Corp in Florida, is the corporation still obligated to pay its creditors?
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Read More Answered By: Steven Meyer |
A coporation always must pay its debts if there are assets avaiilable. If a corporation is dissolved, then it is required to sell any remaining assets and use the money to pay the corporation's creditors.
If the corporation is dissolved in the correct manner following a statutory procedure, then the owners of the corporation are not liable for the corporation's debts. However, if the correct procedure is not followed, then it is possible that the owners will be liable for the corporation's debts. |
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Read More Answered By: Alan Wagner |
Yes. Whether it can is anotter matter |
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