Timely Dissolution Can Protect Shareholders

When a California corporation dissolves, it continues to exist for the purpose of defending claims against it (and prosecuting claims in its name), though a claim by a creditor against a shareholder to recover assets distributed in the distribution must … Continue reading

Posted in Alter Ego Liability, Corporate Law, Piercing the Corporate Veil | Tagged , | Comments Off on Timely Dissolution Can Protect Shareholders

Personal Liability of Officers for Corporate Obligations

In People v. Roscoe (2008) 169 Cal. App. 4th 829, two individuals (John F. Roscoe and Ned F. Roscoe) were officers, directors, and shareholders of a family company for an underground storage tank that leaked over 3,000 gallons of gasoline … Continue reading

Posted in Alter Ego Liability, Directors and officers, Piercing the Corporate Veil | Tagged , , | Comments Off on Personal Liability of Officers for Corporate Obligations