Chris P. Bacon, a well-known wealthy chef, hired an attorney to set up his newest restaurant

as a Corporation, known as LETTUCE, PREY INC. (LP, INC). He was the sole shareholder.

LP, INC. on January 10, 2020, leased a restaurant in downtown Los Angeles for $15,000.00 per

month for 5 years. LP, INC. also borrowed $200,00.00 from Bank of Anartica.

Chris was so busy creating his Noveau Cuisine (a combination of Vegan and Carnivore food)

that he disregarded all corporate formalities, such as documentation of the business contracts,

including the fact that leasing his personal jet to LP, INC. was his only contribution to the capital

of LP, INC. He often deposited the profits to his personal accounts, purchased designer furniture

for his homes and also utilized the profits for many family vacations. The actual newspaper

article re; this case stated that Chris treated LP, INC. as his Personal Piggy Bank

The creditors of LP, INC. (specifically the Landlord and the Bank) are attempting to hold Chris

personally liable since LP, INC is bankrupt.

Discuss whether the creditors will or will not be successful in their legal action against Chris. Why? Why not?