Assertion: close corporation's asset | /r/HasProperty | distributed to shareholder
Facets:
Source sentences:
text: All claims, debts or creditor obligations must be resolved before any assets of an S corporation can be distributed to shareholders.
text: Liquidate any remaining assets, which can then be distributed to shareholders.
text: If assets are distributed to shareholders before all of the corporation's debts have been paid, creditors can sue shareholders for outstanding debt.
text: Costs and legal fees associated with a lawsuit that results in a court-ordered dissolution are added to the corporation's outstanding debt, and, as with a voluntary dissolution, all outstanding debts must be paid before any remaining assets can be distributed to shareholders.