A Newbie Guide to Investing

[Greenrookie]

Hi buddies,

I have some questions. How much is a owner hold
Liable for failure? 

For example, a company is bankrupt, all its assets are seized, can the owner's own assets such as properties or cash be seized? 

To what extent is interested party transaction "illegal"
When declared?

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Rationale of asking:

With the fall of many companies, if the owners only liability is the shares of company going worthless, there is many ways to "transfer toxic" or "buy insurance" isn't it?