Legal Question in Employment Law in New Jersey

As you probably know, as a general rule, corporate shareholders are not personally liable for the debts and obligations of the corporation. However, there are MANY, MANY exceptions to that rule. In some cases, a shareholder may be liable for underfunded pension obligations. I would need more information to advise you on your particular circumstances. Please feel free to contact me ASAP so that we may explore your options and protect your legal rights. 973-921-0600.

Kindly note and remember that my response is merely a general comment on the law related to your question, and NOT legal advice or opinion. Also, your question and my response does NOT create an attorney-client relationship between us. You cannot rely upon what I have written, because I do not have all of the information that I need to advise you or render an opinion. Even simple facts you have not shared can completely change my answer. For me to give you legal advice or opinion, you would need to hire me to be your lawyer, and then we would need to discuss this in detail and go over the documents.

IRS CIRCULAR 230 DISCLOSURE: As required by U.S. Treasury Regulations governing tax practice, you are hereby advised that written advice contained herein (if any) was not written or intended to be used (and cannot be used) by any taxpayer for the purpose of avoiding penalties that may be imposed under the U.S. Internal Revenue Code.

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With best wishes,

Barry F. Gartenberg, Esq.