What is the name of your state (only U.S. law)? California
This has not yet gone to Bankruptcy however we do have a supplier who is threatening legal action for unpaid invoices.
According to the letter from this suppliers lawyer they will file a collection action and "attach your property wherever located".
We assume the "your" refers to the property of the corporation itself and not the property of the individual corporate officers. Are the individual officers of the S Corporation protected from this kind of action?
Thank You
This has not yet gone to Bankruptcy however we do have a supplier who is threatening legal action for unpaid invoices.
According to the letter from this suppliers lawyer they will file a collection action and "attach your property wherever located".
We assume the "your" refers to the property of the corporation itself and not the property of the individual corporate officers. Are the individual officers of the S Corporation protected from this kind of action?
Thank You