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Message: <blockquote data-quote="Staffan" data-source="post: 9485836" data-attributes="member: 907">The point of a corporation is to shield its owners from liability beyond what they have invested in the corporation. I mean, there are other reasons as well, but that's the main one. If the corp folds and there are not enough assets to cover its liabilities, those owed money are SOL. This should not apply to debts incurred through malice. This would prevent nonsense like the "Texas divisional merger" where a corporation can put various liabilities in a subsidiary and have that subsidiary declare bankruptcy (see: Johnson & Johnson doing just that with the liabilities incurred by selling talc powder which they knew could contain traces of asbestos and thus be carcinogenic).Oh, and in a case like J&J, the execs in charge should also be charged with whatever crime is appropriate for having caused the deaths of those who died from cancer they got from using their talc.</blockquote>