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TO: Pat Jennings

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D

depeche

Guest
Successor corporatins can sometimes be held liable for debts of its predecessors. Generally, 2 requirements must be met:
(1) There is merely a "reorganization" (same location, people, products, function), AND
(2) The asset pool of the predecessor was not drained/closed -- full & adequate consideration was not given for the asset transfer.

For (2), essentially you would need to trace the assets that rightfyllu belonged to you (building website) and determine whether consideration was given or not. If consideration IS give, then it is not a continuation of the same business.

Alternatively, you can recover if you can show fraudulent conveyance -- a transfer by debtor to defraud, hinder or delay creditor & to remove property from own name to become judgment-proof.
 



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