We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Successor Liability: Corporate Asset Buyers Beware

Law360 (May 4, 2009, 12:00 AM EDT) -- As the economy continues its downward spiral, more and more companies are faced with increased liabilities that they simply cannot pay. When faced with this predicament, a majority of these companies will consider the more common options of developing payment plans with creditors or filing for bankruptcy protection.

However, certain companies may believe that they can escape their financial obligations by simply conveying their assets to a newly formed company owned by the same shareholders and employing the same personnel, while leaving the liabilities behind in...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.