With corporate fraud and bankruptcy filings on the rise, creditors are increasingly looking to related entities, corporate shareholders, directors and officers to pay their claims when the corporation goes belly-up.
'Personal' Alter Ego Claims in Bankruptcy
<b><i>Part One of a Two-Part Article</i></b> With corporate fraud and bankruptcy filings on the rise, creditors are increasingly looking to related entities, corporate shareholders, directors and officers to pay their claims when the corporation goes belly-up. Unfortunately, bankruptcy courts have made it virtually impossible for creditors to maintain individual alter ego claims against the debtor's shareholders and affiliates. As a result, crafting an alter ego claim that will survive an attack by the bankruptcy trustee (or the bankruptcy court itself) requires finesse.
By
Thomas B. Walper, Mark Shinderman And Amy BoydThis premium content is locked for The Bankruptcy Strategist subscribers only
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