Shareholder vs. Principal
This is a discussion on Shareholder vs. Principal within the Business Bankruptcy forum, part of the Starting a Business category; I am a shareholder and secretary of a business that is going to file bankruptcy. In addition, I personally signed ...
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Jul 16th, 2009, 01:20 PM
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Shareholder vs. Principal
I am a shareholder and secretary of a business that is going to file bankruptcy. In addition, I personally signed my name on a business credit card. I was told by the owner of the company that I am a principal & therefore all creditors will come after me. I know I am responsible for the business credit card I signed for, however, I'm confused on how I am responsible for the other creditors. What is a principal? Any help is appreciated.
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