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The problem lies both in the Limited Liability of directors and the non-liability of shareholders (limited to their investment).

If shareholders owning a significant proportion of a company (say over 10%) were required to co-sign (i.e. give personal guarantees of company debts) the entire corporate responsibility dynamic would change.

No matter that 'personal' would, in many cases, be a corporation - the same rules would apply within the investing corporate body, and so on ad infinitum.

You can't be me, I'm taken

by Sven Triloqvist on Mon Nov 14th, 2011 at 04:31:25 AM EST

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