[gsibble]

My attorneys made it 100% clear that missing payroll would make the officers and directors liable immediately in this situation. It was news to a lot of the companies we talked to.

[jbaczuk]

What about the investors, who are also owners, and probably pressured the company to take on debt from SVB?

[anonymouskimmer]

I assume the officers are liable as shareholders? And by the time this liability was pursued in court the SVB replacement should be working well enough to pay everyone. Unless the regulatory agency can demand immediate payment from the accounts of the officers and directors.

[gsibble]

Officers are liable as managers basically. Same as directors. Similar to fiduciary duty.