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If you delay in filing for insolvency you become liable with your private assets in Germany (certainly true for GmbH).
by cf21 10y ago
If you delay in filing for insolvency you become liable with your private assets in Germany (certainly true for GmbH).
- spangry 10y agoSame for Australian corporations (directors become liable for knowingly trading while insolvent). Normally they're treated as completely separate legal entities, but not in this specific case. I'm sure there are instances of this in US law too: I'd always thought the term 'piercing the corporate veil' originated from the US...