Will the owner of the business take responsibility for the formal law suit before close the business?
My friend is a small business owner, and recently, he involved in a small case law suit, since his business is so slow, he (or his business) can not afford to pay for the penalty (more than $5k), before the final of the court decision (he think he will lost), he want to close the business. The question is, will he take the responsibility for the case even after close the business, will that lawsuit hold the liability for his own personal asset. Any suggestion for him to pass the crisis. Thanks.
