If the the estate is under the company and there are only 2 share holder.
In the event of one declaring bankrupt, would the shareholder be automatically boot out from the company?
Financial Bankruptcy, Bankruptcy
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 Mar 24 2009, 09:39 PM
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Mar 25 2009, 10:15 PM
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QUOTE(meejawa @ Mar 25 2009, 09:52 AM) Bankrupts can't be directors wat, isn't it? Yes, I am thinking. If one of the director is bankrupt, he automatically lose the directorship and loses the share. All must be drafted out by a lawyer to make sure it's fool proof. He lost the company after he first declare bankrupt but before being attack by creditor.  |
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