Many believe that as a shareholder of a limited-liability
company they will not be liable for the debts of the company with
their own assets. In most cases this is true, yet there
are situations, when the rule of limited liability shall not
prevail and the shareholder of the LLC will be directly and
unlimitedly liable for the company's debts. In this short
article we summarize the most important cases when the limited
liability becomes unlimited.
- The breakthrough" of
limited liability
In general the shareholders of the limited-liability company
(LLC) are not liable for the debts of the company with their own
assets if they have provided the contribution set forth in the
articles of association (eg. in cash contribution, in-kind
contribution).
