Case Problem Analysis:

Corporate Formation

Solo Services, Inc., was a trucking comnany established in $2005$ and owned by Toby Solo as the sole shareholder. Toby Solo also was the president of the company. Toby Solo set up an account with Lakes Express, a fuel provider, on behalf of Solo Services, Inc., and his drivers often would charge fuel purchases for the company trucks to that account. Lakes Express then would bill Solo Services regularly for the charges on the account.

After several months of low business, Solo Services ceased doing business and was dissolved in $2018,$ with its assets being distributed to creditors. Lakes Express only recovered a small part of the amount owed by Solo Services, Inc. Toby Solo then opened up a new trucking service business as a sole proprietor. Lakes Express sought to recover Solo Services' unpaid fuel charges, which amounted to about $$35,000,$ from Solo. Solo argued that he was not personally liable for a corporate debt. Should a court hold Toby Solo personally liable?