Topic
corporate dissolution
143 published works
Defense Litigation Insider
Free and Clear: Dissolved Delaware Corporation Deemed Not Liable for Asbestos-Related Liabilities More than 10 Years After Dissolution
The Delaware Court of Chancery recently took a rare foray into the world of asbestos litigation after it was asked to appoint a receiver to distribute the remaining reserves from…
Insurance Litigation & Regulatory Law Blog
Recovery From Dissolved Corporation’s Liability Insurer Barred By Foreign Survival Statute
The recent case of Greb v. Diamond International Corp. highlights the need for dissolved corporations and their insurers to consider the survival statute of their state of incorporation when defending…
Delaware Corporate & Commercial Litigation Blog
Chancery Addresses Two Methods for Dissolving Delaware Corporations; No Receiver Appointed 10 Years after Dissolution and No Claims Allowed after 10 Years
In the Matter of Krafft-Murphy Company, Inc., C.A. No. 6049-VCP (Del. Ch. Feb. 4, 2013). Issue Addressed This case addresses a question of first impression in Delaware: Whether a receiver should be…
New York Business Divorce
Dissolution Case Ensnares Buyer of Corporation’s Realty in Unauthorized Sale
Someday, if and when the facts come out in discovery, we’ll learn what really happened in the curious case of Matter of Hu (Lowbet Realty Corp.), 2012 NY Slip Op 22314 (Sup…
The Appellate Strategist
Limits on Life after Death: Only Accrued Claims Are Viable Against Corporations Post-Dissolution
By Kirk Jenkins
According to the Illinois Business Corporation Act, the dissolution of a corporation “shall not take away nor impair any civil remedy available” to or against the corporation, its directors or…
Delaware Corporate & Commercial Litigation Blog
Conspiracy Theory of Personal Jurisdiction Over Director Survives Motion to Dismiss
Hospitalists Of Delaware, LLC v. Lutz, C.A. No. 6221-VCP (Aug. 28, 2012). In this derivative and direct action, the plaintiffs, two judgment creditors of defendant Cubit Medical Practice Solutions, Inc.,…
New York Business Divorce
Unclean Hands Defense Defeats Petitioner’s Shareholder Status in Corporate Dissolution Suit
The doctrine of "unclean hands" played a decisive role in a recent decision by Justice Emily Pines in Kimelstein v. Kimelstein, in which the court dismissed a dissolution petition brought…
Unfair Business Practices
Virginia Clarifies Test for Judicial Dissolution of Corporations and Partnerships
By w-michaelmikeholmunfairbusinesspractices-blogspot
Last month the Virginia Supreme Court issued two significant opinions relating to the judicial dissolution of partnerships and closely held corporations. Both cases addressed issues of first impression. The opinion…
New York Business Divorce
Judicial Dissolution of the Not-For-Profit Corporation
Did you know that not-for-profit corporations can also be the subject of judicial dissolution proceedings stemming from disputes among the members? A rare example recently made the news in the…
Delaware Chancery Law Blog
Delaware Court of Chancery Addresses Procedure for Pursuing Claims on Behalf of a Limited Liability Company After Its Dissolution and Cancellation
The Delaware Court of Chancery in Matthew v. Laudamiel, C.A. No. 5957-VCN, (Del. Ch. Feb. 21, 2012) addressed, among other things, the issue of whether the dissolution and cancellation of…