3 ms·

It seems like a big loophole to get out of existential legal or debt liability.

• maxerickson 11y ago
  That's pretty much what corporations are for though. When something goes wrong the corporation folds and that's it (with some fussing around to give debtors and investors whatever money might be left). I'm assuming the assets sold at a fair price. If that is the case, it doesn't hurt the ability of the company to pay back the liabilities. If it isn't the case, it's headed in the direction of fraud.
  • maxerickson 11y ago
    Should be creditors in the first paragraph parenthetical, not debtors.