S-Corp liable for debts?

[bsjbrown]

I sold my shares to my partner in our s corporation. This was done thru a lawyer. The s corp is now in his name only. I started a new s corp in my name only. My former partner has not been paying his bills (one that i signed the contract when we were in business together). This creditor is now coming to me for payment. Am i liable or is his s corp liable?

I'm sorry is i have intruded but i sure need an answer is you are willing. Thanks.

[lrprn]

bsj, I moved your question here off the two-year-old thread you originally posted it to into its own thread. You'll have a much better chance of responses this way. We have a fair number of business owners here - hopefully one of them will have an answer for you.