Terminating a Corporation With a Poor Man’s Dissolution
- January 24, 2011
- Posted by: Seth Heyman
- Categories: Business Law, Featured
One of the main benefits of incorporating is to protect the personal assets of the participants, and the primary advantage of officially dissolving a corporation is that doing so will continue to protect those assets. With a poor man’s dissolution, there is a significant danger of corporate creditors attempting to hold shareholders personally liable for the corporate debts.