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chemist72

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chemist72

Re: rc1968 post# 35590

Friday, 06/07/2019 2:16:37 PM

Friday, June 07, 2019 2:16:37 PM

Post# of 37346

shareholders should be responsible and they should pony up $55 per share they own to cover the $6B in debt


This is a VERY important point that should be driven home on this board. Shareholders derive a great BENEFIT from bankruptcy in NOT being responsible for SHC's massive debt load of about $6B.

Generally, shareholders are not personally liable for the debts of the corporation. Creditors can only collect on their debts by going after the assets of the corporation.


https://www.nolo.com/legal-encyclopedia/personally-liable-business-bebts-business-bankruptcy.html
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