answersLogoWhite

0

Can a dissolved corporation sue you?

Updated: 12/15/2022
User Avatar

Wiki User

10y ago

Best Answer

Broadly, yes. That said, most states have statutes that limit the amount of time that a dissolved corporation remains subject to suit. That is, after the expiration of that period, it is no longer "sui juris". One of the reasons behind that limitation is so claimants have am impetus to act quickly.

Sometimes a corporation is administratively dissolved because an annual report is not timely filed--that may or may not be inadvertent and if it is, it can be corrected and the corporate status reinstated.

If the officers/directors stop operating the business and allow the entity to lapse, it may be indicative of the fact that business has ceased and there are no assets or stream of income. In that case, it may not be worth the time or money to due the entity. Absent extraordinary circumstances, the people who were the officers and directors of the now-dissolved entity do not have an individual liability for corporate debts.

User Avatar

Marvin Schuster

Lvl 10
1y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Can a dissolved corporation sue you?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Can a dissolved corporation sue?

A dissolved corporation is no longer an entity. I can't imagine how it can enter a legal action, unless the entity was assigned to an agent or one of the original parters.


Can you sue a dissolved corporation in Georgia?

For a time, yes. Depending on the nature of the claim and how the corporation was dissolved, the claim is barred after a period of time, basically 2 years or 5 years.


How long can a lien be held against a corporation if its dissolved?

a dissolved corporation is not a corporartion. a superior court judge will hear any case to see if the "veil" of the corporation can be punctured. If so, the lien holder can sue the officers separately.


CAn you sue a corporation?

Yes, you can sue a corporation.


Can a dissolved corporation sue someone for payment?

If you had a debt with a corporation, then it was an asset (like a building, chair, computer, company car, etc). At the time of dissolution, the corporation sold its assets, including debts owed to it. You legally owe the agency or assigns that purchased your obligation.


What happens to a corporation's license if the corporation is dissolved?

What type of license are you referring to? If the corporation is dissolved, everything relating to the corporation would also be voided. This would vary based on regulations of the state that the corporation is registered and based in also.


Can a corporation bankrupt after it is dissolved?

No, once it is dissolved, it doesn't exist...it can't do anything at all.


Can a major corporation be sue in a small claims?

No.


What is a major advantage of a corporation?

A major advantage of a corporation is the limited liability of the owners. When a stockholder dies, the corporation is not dissolved.


What if a corporation has been dissolved administrativly?

Then it no longer exists.


What defines a corporation?

A corporation is a legal entity that is distinct from its owners. It has the right to enter into contracts, loan and borrow money, and sue.


Can a shareholder sue a corporation?

No. A stockholder would need to convince the board of directors to vote to take such an action as a corporation. On the other hand, a number of shareholders can sue the board of directors for not taking prudent steps to protect the business and assets of the company.