[OneTimeLurker]

"What part of "Limited Liability" do you not understand ?? Are you a socialist sleeper ??"

What part of corporate law do you not understand? Are you a 3rd grade sleeper? Corporations go bankrupt all the time to restructure. It has nothing to do with limited liability. LLCs also go bankrupt.

[newfarm4000n]

What part of corporate law do you not understand? Are you a 3rd grade sleeper? Corporations go bankrupt all the time to restructure. It has nothing to do with limited liability. LLCs also go bankrupt.


You obviously didn't understand what I was saying . You cannot enforce debts against a LLC after a certain point as the stockholders are free to walk away and invest the rest of there money elsewhere . They cant be called in the future to pay back the LLC's debt. . Personal debts however can be paid by future earning of the individual .

[Finger Monkey]

Are you a 3rd grade sleeper?

Excellent slam, my man.

[jamaly]

Corporations go bankrupt all the time to restructure. It has nothing to do with limited liability. LLCs also go bankrupt.

A huge corporation declared bankruptcy in January 2003. My husband and I had a Mom and Pop business with 6 well paid employees. My husband and I both worked for two years without taking a cent of salary for ourselves. We put every cent we made back into our businees. This HUGE corporation was our largest customer and owed us over $100,000. Our company was a young company. As Hillary would say we were "undercapitalized". That corporation's bankruptcy put us out of business and ended up costing us almost $300,000 because we had to cash in insurance policies, etc. to pay off our small business loan. We honored every single one of our debts to our personal financial detriment, even though we too were a corporation.

That heartless corporation has reorganized and will soon be sending us a check for 8 cents for each dollar they owed us. My husband and I paid all of our debts in full. The huge corporation should be forced to do the same.