Re:Soylent now accepting Bitcoin for preorders
by westicle on Tuesday August 06, 2013 @11:46PM
(#6170693)
This is partially correct.
If you manage to sell the corporate entity to a third party without making any warranties about latent claims, you will not be concerned about the corporation's liability. And the purchaser of that corporation is pretty foolish.
However you are still responsible for your own personal liability when you operated the company. Did you breach your directors' duties? Did you commit fraud? Did you sign a guarantee for the obligations of the corporation?
There are three ways to become personally liable off the top of my head. I'm sure there are several more.
Re:Soylent now accepting Bitcoin for preorders
by dragonwriter on Wednesday August 07, 2013 @12:45PM
(#6173940)
I think its completely correct, as I think the issues you enumerate are encompassed within the portion starting "at least...".
However, the enumeration of those other avenues to liability is valuable.
Actually, yes, selling your stake in the corporation that was the legally-responsible actor does mean that you are no longer at any financial risk for the actions of the corporation prior to you selling it, at least not in the main way that you were prior to selling it (that the consequences imposed on the corporation would reduce the value of your equity stake.)