Ask a Business Lawyer. Get Business Law Questions Answered ASAP.
*Due to rules of your state bar or mine, nothing herein is intended as legal advice, only intended as general information to better help yourself.*
Welcome to JustAnswer,So sorry to hear of this dilemma. If my answer is not clear to you or does not fully answer your question, please ask me for clarification by using the reply button.
A shareholder may sue the corporation
A corporation is an entity separate and apart from the shareholders. Therefore a shareholder may file suit against the corporation.
ok so my shares are worth about 160,000.00 USD and the company debt known exceeds 200,000.00 USD that being said is why i think the majority owner is dodging or delaying and this may set the business to default. as a shareholder can i be held accountable for the business debt.
beyond my investment
As a shareholder your risk is limited to your shares. Your personal assets are not at risk unless you have personally guaranteed the debt
Please use the REPLY button if you have any questions concerning my answer. Otherwise please click ACCEPT so that I am paid by the site for answering.
Best wishes for a Happy and Healthy New Year!
to you as well thanks