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Pending civil case is a nusiance...

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luettgen

Junior Member
What is the name of your state?Commonwealth of Pennsylvania

Can a pending civil case (for wrongful death and survival action) keep our corporation from selling a business or selling real estate that is listed as an asset on our books?
 


JETX

Senior Member
luettgen said:
Can a pending civil case (for wrongful death and survival action) keep our corporation from selling a business or selling real estate that is listed as an asset on our books?
Unless the asset or property is behing held (sequestered) as a pending judgment asset, there is no statutory reason to prevent its sale. However, the sale must be 'arms length' as it may be reviewed by a court as a possible 'fraudulent conveyance' to remove the asset in attempting to avoid its seizure.
 

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