Debt of Public Corporations

There is a public corp in my country that just won't close. It's 150B in debt and hasn't paid taxes in eons. My question is if I take control with less than 1% or so, is that all the debt I will be liable for if I close it?

You should be, but with the way the finance page is set up it's difficult to track.
Another option may be to have your CEO buy it and move it out of your country.

I took control with 5 measly shares and closed it. I didn't see a warning about paying a penalty to the country for closing it so hopefully cost close to nil.

Out of curiosity what does happen to all those outstanding loans?

They were lent that money and if it wasn't paid off do the lenders get their money back or are they SoL?

The loans are trasfered to the owner, either a county or ceo. In this case it should have transfered to the investment funds that owned it.