A recent New York bankruptcy case holds that shareholders, directors and officers who dissolve a corporation to avoid paying a judgment against the business may be jointly and severally liable for a non-dischargeable debt in their personal bankruptcies.
Filed under:
USA, New York, Company & Commercial, Insolvency & Restructuring, Litigation, BakerHostetler, Bankruptcy, Shareholder, Debtor, Debt, Mortgage loan, Personal property, Misrepresentation, Joint-stock company, Joint and several liability, Dissolution (law), Corporate bond, Title 11 of the US Code, United States bankruptcy court
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