Free Legal Advice Philippines

Disclaimer: This web site is designed for general information only and does not create attorney-client relationship. Persons accessing this site are encouraged to seek independent counsel for legal advice regarding their individual legal issues.

Log in

I forgot my password




You are not connected. Please login or register

Need advice re: incorporators/members

View previous topic View next topic Go down  Message [Page 1 of 1]

1 Need advice re: incorporators/members on Mon Nov 21, 2011 4:34 pm

If the incorporators (also the officers) of a corporation resign when the company is going bankcrupt, are they still liable for corporate debts considering that these were incurred while they were still connected with company?

Can creditors attach the personal and conjugal property of incorporators? Up to what extent? Can the family residence be attached also?

If the remaining incorporators/officers are paying off some of the credits personally, are there available remedies for them to collect from those who resigned?

Thank you for the advice.

View user profile

2 Re: Need advice re: incorporators/members on Wed Nov 23, 2011 9:41 pm

attyLLL


moderator
yes, but only up to the extent of their unpaid subscriptions.

only if those who resigned can be shown to have acquired properties of the company unlawfully


_________________
[i] Visit our FB Page: BPO Employee Legal Advice
Warning and Disclaimer: I am not your lawyer; and you are not my client. With the limitations of an  Internet forum, a thorough review of your concern is not possible. View my comments at YOUR OWN RISK. It is best to actually retain a lawyer for your individual concerns.
View user profile

View previous topic View next topic Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum