True, cause unfortunately with an srl they almost can.
We have very ineffective company structures, that are a big handbreak for innovation, but that's not the sole cause. It's the mix of factors that makes it hard, the challenge is in finding which one is the core one.
When the banks ask the owners to back the funding to the company with personal liabilities.
For example I've seen in a case where for a € 100K line of credit the bank asked to all three the founder to back this with 100k liability EACH ONE, for a total of 300k. The banks wanted just to be sure to find someone to goto if they want the money back. <g>
That sort of thing can happen anywhere. Indeed, someone close to me in the US went bankrupt, despite having a C corporation, because a supplier required signing off personally, and things went south...
