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Roger, Attorney
Category: Bankruptcy Law
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Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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Colorado C corp. Are there ANY repercussions to either board

Resolved Question:

Colorado C corp. Are there ANY repercussions to either board members and/or stock holders if the company goes under, with remaining debt, and simply "goes dark" and goes away, instead of formally claiming bankruptcy and presumably going through some kind of formal closure?
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  Roger replied 7 years ago.

So long as there are no personal guarantees on loans, contracts or other commitments, no.


However, if the company itself owes money, creditors can force it into an involuntary bankruptcy in order to force the liquidate of assets to pay off debts, etc.



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