If the company I work for goes bankrupt or put in collections and I do the accounting, will I be held responsible for any of this?

Asked on September 23, 2015 under Employment Labor Law, Minnesota

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

No, your are not liable or responsible simply because your employer goes bankruptcy or is put into collections or sued. However, if you were negligent or careless in keeping the books and so caused some of the problems or failure to pay creditors, or worse, deliberately falsified records, lied to creditors, misrepresented finances, etc. then you could be liable due to your own personal wrongdoing.


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