Brookfield Office Properties Inc T.BPO.PR.A

Business Structure and Liability

[CrazyTrader]

If I own 100% of the voting shares of ABC Corporation, can I be held personally liable for ABC actions/liabilities?  

I come across this all the time where small businesses, "family" businesses where the owner goes through the extra trouble and expense of incorporating instead of remaining a sole propriatorship, I assume to limit liability.     

Common Sense would say that I would be still liable for ABC actions as while ABC on paper is a separate entity effectively it is not, I control it just like a sole propriatorship.

But we live in a world with little common sense, so I don't know that "legally" the case is.

Why I ask this????......    I think BPY bought all of BPO common shares and I think became responsible to BPO prefers, they even guaranteed in writing I believe.    Since then, I think Brookfield (BN/BAM) bought 100% of BPY and took it private.     

Does this make BN/BAM liable for BPY liabilities and to BPO Prefers?    

If I can be held liable for ABC's liabilities, would it make sense BN/BAM can be held liable for BPY liablities?     

Right?  I can't just incorporate a business ABC, get people to deposit down payments on projects, and then never start them or start them and walk away, and can't be held personally liable, even if no ill will was ever intended?



All just my opinion/view/thinking/wondering/asking