H1B status; company closing; using canadian investors

Hi there.
I realize the subject heading isn't very helpful but I was trying to get as much relevant info into it as possible.
The situation: Husband has H1B and works for a company which he helped to start. It's a subsidiary of a large company and has corporate partners from three different states. Due to a few different reasons, the Board has decided to wind this company down. Hubby has a few options-find employment with parent company (and I assume they would have to transfer work visa); work in same company but for different american companies...
But the option he is working on is to have his previous employer from Canada (who was born in the states) put together a proposal with an investor and BUY the company he now works for. He would continue on in the same job and the company name stays the same. Would the fact that the company structure is drastically altered and it is run by a different set of investors/companies affect his Visa status?
Is it really as easy as getting the appropriate investors to buy the company and keep it going? Is there some type of residency requirement for any principal of the company?
thanx

Yes, your spouse will need a new H1 application, and thus the company will need to provide ample evidence of its eligibility for sponsoring any H1, let alone a co-owner.

Time for the lawyers to get involved.

I understand that transfering H1B is fairly straight forward but for the last scenario, dh says that 'Canadian company' can buy current company (LLC) and he could switch visa to L Visa. Can you be a co-owner with an L visa?
And yes, he has a lawyer that he has used from the start but I like to find out my own independent information.
Thanks agnelson!

Yes, your spouse will need a new H1 application, and thus the company will need to provide ample evidence of its eligibility for sponsoring any H1, let alone a co-owner.

Time for the lawyers to get involved.

For L visa, he would have had to work outside US for that firm or related firm first. if this had been the case, he would have already gotten L status the first time he came down to work. But if he was ineligible for L visa before, all his work in the US will not make him eligible now.

The H transfer is not straightforward if the sponsoring entity isa newly formed company. He has H quelifications, but this new firm maight not.

His lawyer managed to get him an H1-b for a company that he owned: that is highly unusual to say the least, given the rules against self-sponsorship, so I'd be stick with his magical touch.

The H transfer is not straightforward if the sponsoring entity isa newly formed company. He has H quelifications, but this new firm maight not.

Just for the sake of being precise: H1B transfer would go through parent company for scenario number 1, and the final scenario, where new investors take over existing business...it won't be a newly formed company, it is the same corporation with different investment partners. They will take over the liabilities, buy name, customers etc.

His lawyer did not get him a visa for a company that he was an owner in. He is not an owner, just a consultant and then employee.

You were the one who mentionned ownership.

USCIS doesn't like "flow-through" H1's anymore as there was obvious abuse. They scrutinize these extensively.

You were the one who mentionned ownership.

Well, not precisely. I asked if you can be a co-owner and obtain an L visa. You inferred ownership from that.
However, it IS a possible scenario being batted about.
Thank you for all your answers. I appreciate the time you put into this site. You're an immense help to so many. Keep up the great work!!