Legal Question in Business Law in Pennsylvania
i closed my business in dec. of 2007 all assets were liquidated to pay bills but berore closing the corp.was sued and ran up 5100.oo in legal fees. as former president of corp. can i in any way be sued personally for these legal fees?
1 Answer from Attorneys
As a Franchise Attorney I can advise you as follows. It really depends on a number of factors. These include whether the assets were properly distributed or not. It also would depend on whether you are sued personally. Anyone can be sued for anything, and if you are, you will have to defend, etc. You're also very close to the 4-year statute of limitations, so consult with a good business or franchise attorney in your area for specific advice.
Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.
Franchise Foundations, a Professional Corporation
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