Would you, though?
It depends on the state of the business. If the business is really up shit creek, his personal assets are separate to the company's and he'd probably rather keep them separate than risk losing everything he has.
Only way anyone is touching his personal assets is if they prove mismanagement / him taking funds which should be in client accounts/kept separate from revenue.
(This is how an affiliate network should run - money from advertisers is straight away put into a separate client account to pay off affiliates, net the 10-20% or whatever cut the network takes, which goes into the network's kitty to go towards revenue, expansion, etc + say 2-3% of this goes into another "secondary" client account to count for a buffer if advertisers they've got on credit fail to pay up, until that covers say an average of 6-12 months commissions or whatever [you can work that out based on the percentage chance of default of your advertisers.. e.g. worst case scenario 3 months default from your biggest advertiser, how much cash you need?].. However in practice many affiliate networks take from the client pot to cover short term cash flow problems, which means the first sign of an affiliate network going to shit is payments being delayed.
You also have to be ruthless with your advertisers, if one of them doesn't pay their debts on time, you shut their ads down, with no leeway, until the balance is paid. If you fail to do this, your risks run too high and you potentially compromise the whole system. Of course in reality lots of networks will think twice before stopping their biggest advertisers ads, etc, which leads to these kinds of problems.)
