Are the individual officers of the S Corporation protected from this kind of action?
This is a discussion on Are the individual officers of the S Corporation protected from this kind of action? within the Business Bankruptcy forum, part of the Starting a Business category; STATE: CALIFORNIA This has not yet gone to Bankruptcy however we do have a supplier who is threatening legal action ...
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Jan 31st, 2009, 03:34 PM
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Are the individual officers of the S Corporation protected from this kind of action?
STATE: CALIFORNIA
This has not yet gone to Bankruptcy however we do have a supplier who is threatening legal action for unpaid invoices. According to the letter from this suppliers lawyer they will file a collection action and "attach your property wherever located". We assume the "your" refers to the property of the corporation itself and not the property of the individual corporate officers. Are the individual officers of the S Corporation protected from this kind of action? Thank You |
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Feb 4th, 2009, 06:33 PM
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Re: Are the individual officers of the S Corporation protected from this kind of action?
Unless the officers signed in their individual capacity, your means just the corp assets--they cannot sue you personally.
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Feb 5th, 2009, 09:51 AM
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Re: Are the individual officers of the S Corporation protected from this kind of action?
It is just like any regular C corp.
They normally are protected but there are exceptions--fraud etc. |
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