The Benefits Of Shutting Down A Corporation

Law360, New York (June 4, 2009, 12:00 AM EDT) -- In the past several years, we have had the sad experience of being legal counsel for several failing high-tech companies.

In many cases, our clients were victims of a tough economy, a difficult environment for raising equity or investors who simply gave up on the company. Each of these clients shut their doors and ceased doing business.

In the process, we discovered that in many cases, a simple “shut-down” of the business was a better and more practical alternative than either filing bankruptcy or a statutory...
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