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The FTC isn't bound by that and are happy to go after false advertising - neither are the creditors. Running a bankrupt company after knowing it is insolvent i
by slededit 8y ago
The FTC isn't bound by that and are happy to go after false advertising - neither are the creditors. Running a bankrupt company after knowing it is insolvent is one reason for piercing the corporate veil. They have a duty to minimize the loss in this situation.
- skinnymuch 8y agoHow many times does the FTC go after these sorts of things? I genuinely don’t know. My gut assumption is they won’t be going after this.
- slededit 8y agoI watched some old taped TV documentaries on YouTube and checked out what happened to the companies in the commercials. A surprising number met their end by the FTC or some other government agency.