
06-24-2006, 05:57 PM
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Junior Member
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Join Date: Jun 2006
Posts: 1
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S Corp Concerns
Hello,
I was involved with a S CORP company back in 2004 - 2005 with 3 of us listed as officers. We were not very biz like people and did not even fill out any of the corp minutes or even stock shares. We were all listed though in the state corp registration as officers. Myself and one of the other officers were deleted from the state corp records as officers in early 2005. We continued to work at the company under the sole officer for a few months and I was even still signing checks and on the bank account even though I was not an officer anymore since he did not want to have to deal with that at first. Myself and the other ex officer then left that company all together and started our own company and even got our own office. This then forced the sole remaining officer to have to run the place his self and sign checks and payroll. We did alot of biz with the company that we just left providing them with alot of product.
Now that company has closed it doors and the other sole remaining officer resigned. The problem is that he took in alot of money from customers without ever delivering a product to them. As you could imagine the customers that did not get the product that they paid for are very upset and I am sure seeking legal help.
My concern here is that since I was once an officer on the paper work, can these angry customers come after myself and my new biz which is an S CORP?
My other concer is that since he took the money from the customers for a product that my new company was supplying him and never delivered it or ordered the product from me, can the ripped off customers come after me for the product even though he never sent me the money to order it.
Thanks in advance.
Last edited by mrmike439 : 06-24-2006 at 06:11 PM.
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