Manganese Bronze, which is based in Coventry, had been trying to secure a loan from Chinese shareholder Geely.

BBC: Manganese Bronze to call in administrators

One trick: An S corp shareholder who has agreed to guarantee a portion of a company s bank loan, though he may never have to pay out a dime, may still try to claim that theoretical indebtedness as a loss.

FORBES: The Shady Side To S Corps