Comment Capitalism and Corporate Structure (Score 1) 327
Like it or not, this is how limited liability companies work. Your potential liabilities exceed your assets, you fold your tent ans steal away like a theif in the night. The same shareholders and same directors can set up a phoenix company the next day and buy the assets of the old company (at firesale price) and start again.
The limited liability company is the root of capitalism, and I suggest we are stuck with it, for better or worse.