Only Calif. Cos. Face Suits In Perpetuity: State Justices

Law360, New York (February 21, 2013, 6:12 PM EST) -- The California Supreme Court on Thursday affirmed that provisions in the state’s corporate laws allowing dissolved entities to be sued at any time don't apply to non-California corporations, shielding a former Delaware company and its insurers from an asbestos injury suit.

The state high court ruled that section 2010 of the California corporations code, which permits a dissolved corporation to be sued at any time in perpetuity, applies only to corporations formed in California. The ruling upholds a lower court decision dismissing an asbestos exposure injury...
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