The deeper question is whether a company can be treated as a separate legal person distinct from its shareholders. This is the concept of a juridical person or legal entity.
If a company can own property, enter contracts, become debtor or creditor, sue and be sued in its own name, its assets and liabilities can also be considered separately from shareholders' personal assets and liabilities.
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Limited Liability: The Modern Concept and the Shari‘ah Question
The deeper question is whether a company can be treated as a separate legal person distinct from its shareholders. This is the concept of a juridical person or legal entity.
If a company can own property, enter contracts, become debtor or creditor, sue and be sued in its own name, its assets and liabilities can also be considered separately from shareholders' personal assets and liabilities.