Officer Liability For Corporate Debt

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When Corporate Officers Can Be Held Personally Liable in ...

https://www.jonathancooperlaw.com/blog/when-you-can-incur-personal-liability-for-a-corporate-debt-in-new-york.cfm

Oct 16, 2017 · Piercing the Corporate Veil. First, and at the risk of stating the obvious, a corporate officer can be held responsible for his bad acts if the corporation is a sham, or his personal alter ego. This exception to the general rule falls within the ambit of the well-known doctrine called piercing the corporate veil. This exception makes an awful lot of sense, because a defendant should not be permitted to benefit from New York's laws that shield corporations …

Timing Is Everything: Liability of Directors and Officers ...

https://www.sgrlaw.com/ttl-articles/893/

Under the “deepening insolvency” theory, if the directors and officers expand corporate debt and prolong the life of a corporation, the directors and officers may be held liable because the continued operations of the corporation have the effect of increasing losses and deepening the corporation’s insolvency, thereby further reducing the value of the corporate assets and injuring the creditors.

Can the Officer of a Corporation Be Held Personally Liable ...

https://legalbeagle.com/12717738-can-the-officer-of-a-corporation-be-held-personally-liable.html

Ordinarily, an officer cannot be held personally liable, as long as he is acts within the scope of his authority and within the bounds of the law. The only exception to this protection is if a case can be made that the corporate entity is merely a shell that the owners are using to defraud the public.

Director and Officer Liability in the Corporation - San ...

https://sdcorporatelaw.com/business-newsletter/director-officer-liability-corporation/

Learn when directors and officers of corporations face liability for their actions on behalf of the corporation.

Want to Hold a Corporate Officer Personally Liable for an ...

https://fhnylaw.com/want-hold-corporate-officer-personally-liable-alleged-wrong-try-piercing-corporate-veil-can/

Mar 04, 2019 · Thus, these individuals are normally not liable for the debts incurred by the corporation. However, when an officer, director or shareholder abuses the corporate form to perpetrate a wrong or injustice against a third party, courts will intervene on behalf of the third party to hold the corporate actor personally liable.

Those who Operate Dissolved Corporations can be Held ...

https://www.jimersonfirm.com/blog/2014/02/operate-dissolved-corporations-can-held-personally-liable-corporate-debt-incurred/

Feb 21, 2014 · To impute liability on a certain officer or director for the corporate debt incurred during dissolution that actual officer or director would have had to be the one who entered into the contract or obligation. Futch v. Southern Stores, Inc., 380 So.2d 444 (Fla. 1 st DCA 1979). Stated another way, if the president is the one who signed the contract, but the vice president did not, then personal liability can …

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