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Simcountry is an Online Digital World where you are the President of a country.
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What is Simcountry?

The great company disappearing act (Fearless Blue)

Simcountry: Simcountry Bulletin Board  The great company disappearing act (Fearless Blue)

Big Brother (Fearless Blue)

Tuesday, November 02, 2004 - 09:36 pm Click here to edit this post
I have read this debate with interest. Some of you may be aware of my attempt to get WC3 creative to bring in Limited Liability Companies, which some of you may be interested in supporting, go to Suggestions, and then my petition "We want limited liability".

Basically I was arguing for countries and CEO enterprises not having to take on the debts of failed corporations. That's why we invented the corporation rather than trading in our own names in the real world, and we should have that here in Simcountry. Basically I think it is unfair that Jorge has to take on the debts of his failed corporations, he wouldn't have to do that in the real world, (all you do is fill in a set of forms available from supermarkets now, (approx £15), and send a cheque off for £135 to Companies House- limited liability along with your breakfast cereals!).

I have a less sympathy for his attempts to trade whilst insolvent however. Most countries have laws against that. The "Insolvency Service", (or appropriate government body) would soon step and if necessary and wind up a bankrupt corporation, so W3C have got that right. He does of course have the option of subsidising his loss making firms by transfers. This is generally a bad idea, but it may be a good idea in certain circumstances.

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