Bank Taking Corperate funds

10-24-2001, 07:27 PM

RanaeAilene

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Bank Taking Corperate funds

I am in Wyoming. In a hypothetical situation 4 people own a corporation A, B, C, & D. Say A, B, and C have personal debts that they cannot pay, so the bank takes funds from their corporation to pay for these debts, while D pays his personal debts and keeps pouring his money into the corporation. Does the right of offset apply to this situation? At what point, if any, does this become illegal?

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