January 21, 2008 at 17:22Legal and physical person: a little about liability
Among start-up entrepreneurs choosing a form of ownership for their business, it is widely believed that the founder of an LLC, unlike PBUL, does not respond with its property to creditors, should it happen. Well, there is every reason to believe so, but there is one “but.”
In Part 3 of Article 3 of the Law on Limited Liability Companies is written:
About subsidiary liability is written in article 399 of the Civil Code .
Thus, if someone makes an LLC with a minimum authorized capital, starts working, screwed up and goes bankrupt, they can make them respond with their property. Judicial practice is.
In Part 3 of Article 3 of the Law on Limited Liability Companies is written:
“In the event of insolvency (bankruptcy) of a company through the fault of its participants or through the fault of other persons who are entitled to give binding instructions to the company or otherwise have the ability to determine its actions, subsidiary responsibility for his obligations. ”
About subsidiary liability is written in article 399 of the Civil Code .
Thus, if someone makes an LLC with a minimum authorized capital, starts working, screwed up and goes bankrupt, they can make them respond with their property. Judicial practice is.