"In Germany, for example, company founders are held personally liable for unpaid debt for up to 30 years—even after they declare bankruptcy." As far as I know,

"In Germany, for example, company founders are held personally liable for unpaid debt for up to 30 years—even after they declare bankruptcy." As far as I know, this is not true and hasn't been true in many years (since 1999). You can declare "private bankruptcy" and basically get clear of debt after six years. The German Wikipedia article might be of help, using Translate: http://de.wikipedia.org/wiki/Privatinsolvenz http://de.wikipedia.org/wiki/Privatinsolvenz