Quote:
Originally Posted by vintageogauge
In my opinion any corporation that files bankruptcy should be made to use their personal finances to pay off as much debt as possible before stiffing their creditors, there should be no such thing as Corporate Veil, it's simply a legal way to steal from creditors most of which, in most cases, are small privately owned companies or individuals. The bankruptcy laws should be gone over and re-written to protect creditors not just debtors.
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Who are "they"? The stockholders? For publicly traded corporations that is you and I. I assume you don't want that. So then I guess we just wont allow privately held corporations any more. Quite a few drawbacks to that.