Plaintiff Erik Ross Phillips filed suit against a number of defendants after contracting mesothelioma allegedly caused by occupational exposure to asbestos in brake linings used in a machine at the facilities of his employer. The defendants, among others, included the manufacturers and distributors of the brake linings.
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Many small businesses, organized as S corporations, encounter the problem of cash shortfalls at some point in their existence. As a result, S corporation shareholders are commonly faced with the question, “what is the best way to inject cash into the business, a capital contribution or a shareholder loan?” The answer to that question will depend on the specific facts of the company as discussed below.