Trans-Lex.org Law Research: Liability of corporate founders

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The founders are liable for debts incurred in the pre-incorporation phase.

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Please cite as: "Commentary to Trans-Lex Principle No. X.3 - Liability of corporate founders, http://www.trans-lex.org/964000"

The Principle is based on the understanding that prior to the coming into existence of the corporation as a separate legal entity, the founders of that corporation, who have a direct interest in the establishment of the corporation, must be held liable for the debts incurred in the context of the incorporation prior to the coming into existence of the corporation as a separate legal entity.

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