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John, Employment Lawyer
Category: Employment Law
Satisfied Customers: 4471
Experience:  Exclusively practice labor and employment law.
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I managed and owned stock in a Comapny that contributed to

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I managed and owned stock in a Comapny that contributed to a MPPAA. In 2012 the Comapny declared bankruptcy and closed. Can the union hold me personally liable for the "Unfunded vested benefits"
Hi, My name is XXXXX XXXXX I’m happy to assist you with your question today.

Generally a shareholder will not be held personally liable unless the prosecuting party - the union trust fund - can allege and show that the shareholder used the company as his/her personal property and/or intermingled assets between his/her other companies and assets to the point that it is financially indistinguishable where the person's assets and other companies end and where the corporations assets begin. See DeBreceni v Graf

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