Personal liability of the directors towards the creditors follows the liability of the legal person, the one that is damaged by the torts of the directors, so that it aims to reintegrate the corporate assets. The damage thus affects the legal person and only indirectly and implicitly the creditors, the latter being the recipients of the compensation only in the case of the judicial liquidation of the legal person.The personal liability c...

Limited liability of the shareholders is a fundamental concept of the companies, considering that currently, quasi-unanimity of them, are registered as Joint Stock Companies (Corporations) or Limited Liability Company. Limited liability means that the only one that is liable for the corporate debts is the legal person, not its shareholders. Limited liability works as a veil against the personal liability of the shareholders. Thus, the maximum...