im mean..if the business have a debts. and business become bankrupt. who will pay for the debts?? is
who will pay?? why??
If the business is an incorporated entity, nobody pays for the debt, rather, the company's properties are realised (sold/liquidated) and the proceeds used to settle the creditors in order of preference, paying the ordinary shareholders last. The reason for this is that the company by being incorporated, saperated ownership from management. hence, personal assets will not be touched in event of debt.
If on the order hand, the business is not incoporated, the sole proprietor(s) will be responsible for the debt incuured by the business.
I hope this answers your question?
Getting the right debt management advice can set you up to clear your debts quickly and efficiently. No legal documents need to be signed, so missed payments won’t directly result in repossessions.
The Bankruptcy-Insolvency company in the UK will help you in reducing your debts.
by wacknuts 8 years ago
And what does it mean for us?
by I F Khan 4 years ago
Can we expect any MIRACLES? Can God Pay All our debts?
by stanwshura 5 years ago
Do I alone shudder in horror imagining a Romney Whitehouse and foreign relations?"Corporations are people, my friends"?!"I like firing people"."If elected President, my first act will be..." (to undo everything Barack Obama accomplished)!!How 'bout having your own...
by LAURENS WRIGHT 4 years ago
How much more welfare and entitlements can the United States endure before it bankrupts the Nation ?Some states have entitlements of more than 57% of the population. How can 2 or 3 people be on welfare while one person is working to support these? Is it ok for the welfare, relating to...
by Jo Alexis-Hagues 6 years ago
Have we become morally bankrupt as a nation, in the last few years?
by ngureco 7 years ago
What are Bad Debts?
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