The company I worked for had me sign-up for a corporate credit card and had me charge a number of corporate expenses on it. The balance owed is significant. I was let go of my position and the balance is still outstanding. What recourse do I have? What happens if the company goes bankrupt?
The principal liability to the credit card company all depends on the credit card agreement. If you signed the application in your own name, or personally guaranteed a credit card in the company's name - the credit card can and will come after you for payment. If the card is in the company name and you did not personally guarantee, the credit card company will pursue the company.
Now, the liability between yourself and the company is a different question. You may be entitled to recoup any costs that you are responsible for, from the company. If you had an agreement - written or oral - to obtain the card for company expenses, which were to be reimbursed, then you may have an action against the company for their contribution of the debt.
You may want to contact the credit card company first and find out who is the guarantor on the account. But, I would strongly suggest that you contact an attorney to discuss the best way to approach dealing with this legal matter.