Legal Question in Business Law in Florida

Dissolution

I am planning to dissolve my S-corporation due to a severe lack of business. I am PTSD of the company. I currently have $10,000.00 in monies due to vendors. What is the corporate and personal liability on outstanding payments due if I dissolve the company?


Asked on 9/10/03, 2:27 pm

2 Answers from Attorneys
David Slater David P. Slater, Esq.

Re: Dissolution

Upon dissolution corporate assets, if any, may be used to pay off corporate debts. The officers are not liable unless they assumed the debts individually.

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Answered on 9/10/03, 2:59 pm
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: Dissolution

If there has been no personal guaranties of the corporate debt or other acts which would point to personal liability for the corporate obligations, then upon dissolution there would be no personal liability

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Answered on 9/12/03, 2:47 pm


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