Replies to post #113562 on Treaty Energy Corp. (fka TECO)

[againstallodds]

Now this corporate veil thing is interesting:

Although corporate officers are generally protected from liability for the corporation's losses, they may be held liable in certain cases. When corporate officers have disregarded certain formalities that are necessary for the operation of a company -- like failing to follow bookkeeping procedures and commingling personal and business funds -- the corporate form will be disregarded and the individuals will be held personally liable for the losses of the business. Although these officers must have knowledge of the wrongdoing to be held liable, it is not necessary for other employees to also know about it.

I Wonder if the current BOD would fit in there, Tesarski definitely would though...