Legal Question in Bankruptcy in California

Re: s corp bankruptcy

Generally not unless they signed a personal guarantee to pay the debt or incurred the debt personally on behalf of the corporation. However, this does not prevent a creditor from suing the officer and trying to prove they were liable.

Sometimes there are specific laws that make an officer liable for certain debts. For example, the IRS might look to hold a corporate treasurer responsible for certain tax debt if the company failed to send money withheld from employee paychecks to the IRS.

Re: s corp bankruptcy

Generally, an officer will not be liable for corporate debts. However, there is a way to get to the officer, if a court "pierces the corporate veil" which basically means if there is proof that the corporation was a "sham or alterego" of the officer. If a court pierces the corporate veil, the officers will be personally liable.