I am in NC and have a sub chapter s corp. We were sued and lost. The corp has almost no equity. If the company was dissolved could they come...

Question

I am in NC and have a sub chapter s corp. We were sued and lost. The corp has almost no equity. If the company was dissolved could they come after me (president of the corporation) for the judgement?

Answer

If the judgment is just against the corporation and not against you then you are ok in terms of being directly liable. The problem is that when you go to dissolve the corporation, if there is a judgment against the corporation, then any assets of the corporation would be sold and use to pay the debts. So the proceeds of any assets go to the judgment creditors and not you. Once they are paid then any excess would go to you. If you were sued along with the corporation then then the creditor can try to enforce the judgment against you personally, but unlike your corporation, you would have the benefit of the personal exemptions.

If there is no equity in the company, you could do a few things:

(1) if the company has no plans to remain in business and if it has a lot of debts, maybe it should file a chapter 7 liquidation bankruptcy.

(2) if the company does not have enough debt to justify bankruptcy, you could just simply let the secretary of state administratively dissolve the company. This would work if there are no assets in the company - no vehicles, land, bank accounts etc. The judgment would still be there but if the corporation goes out of business, is dissolved and has no assets then I don't see what a creditor could do.

I am not a business lawyer - I handle consumer debts. Perhaps a business collections lawyer may be able to offer further insights as to what a judgment creditor could do.

i have a restraining order against my ex. hes going to jail soon. i want to move out of atate with our two children but im not sure nj court...

Question

i have a restraining order against my ex. hes going to jail soon. i want to move out of atate with our two children but im not sure nj courtsw will let me! he sees kids every other weekend

Answer

Call me at 732/773/2768 to discuss

My husband and I have been married for three years. My husband had our house prior to the marriage. We are divorcing. What can I expect to r...

Question

My husband and I have been married for three years. My husband had our house prior to the marriage. We are divorcing. What can I expect to receive in the divorce and I am entitled to an equity in the home ? We do not have children

Answer

If there was a significant appreciation in the house from date of marriage to date of separation, there could be a justified community interest.

If a couple is married in Minnesota and a custody order is given, they divorce, and then remarry, have 2 more children, and divorce again - ...

Question

If a couple is married in Minnesota and a custody order is given, they divorce, and then remarry, have 2 more children, and divorce again - is the initial custody order valid? The court would have to give a new one to take into account the new children right? Is there a part of MN statute that addresses this?

Answer

If the parties remarried, there may be a basis to revisit the custody order. It is based on a new divorce and a new action.

For a consultation call 612-240-8005.

Answer

Hello. Generally, a court order remains valid unless and until it is replaced by a subsequent order or extinguished for some other reason. Upon a second divorce action, the matter of custody of the children presumably would be revisited.

Tricia Dwyer Esq

Phone: 612-296-9666

Tricia Dwyer Esq & Assoc PLLC

Minnesota Divorce Law

Minnesota Child Custody Law

my tenant did not pay rent and then they said they were breaking their lease and moving out by 4-20. today is 4-25 and they still have belon...

Question

my tenant did not pay rent and then they said they were breaking their lease and moving out by 4-20. today is 4-25 and they still have belongings in the house and we have no way to contact them. The neighbors say they haven't seen the tenants in a month. We went to file a UD and the Kern County Courts told us we couldn't because they weren't really living there. What can we do to get our home back? They were only 6 months into a 1 year lease

Answer

You can either file an unlawful detainer or you can proceed with what is called tenant abandonment of the lease. In either case, I suggest you seek legal assistance from an attorney, and not from the clerks of the court who are not authorized to give legal advice.

I own a property with a restaurant on it, I have leased this restaurant to someone I believed to be competent. In the process of procuring s...

Question

I own a property with a restaurant on it, I have leased this restaurant to someone I believed to be competent. In the process of procuring supplies and opening the business, I have learned that she is an alcoholic and very incompetent. I paid for her liquor license as a gift. I no longer wish for her to run this business in my building, and have been walking on eggshells not wanting to upset her and have her take the license and sell it. Is there anything I can do to get her out and retain the liquor license?

Answer

I am assuming you have a written lease? If so, then it controls. If not, then whatever the default commercial scenario is in your jurisdiction would control. For example, a month to month requires a min of 30 days notice to vacate.

The fact that you are now uncomfortable gives you no legal right unless you are saying that they are in breach. Can you imagine what the world would be like if we could frustrate legal contracts based on our newly formed opinions of those who are party to our agreements?

You should seek advice of counsel before you say or doing anything to make sure you are not exposing yourself to a legal action.

Best regards,

Frank

Natoli-Lapin, LLC

I injured myself at work low and upper back left shoulder and arm. After reporting the incident and seeing employee health im on light duty ...

Question

I injured myself at work low and upper back left shoulder and arm. After reporting the incident and seeing employee health im on light duty and physical therapy my employer said they have to file a workers compensation case to cover my medical expenses but since im not losing any time from work that will be all my question is what about my pain and suffering am I entitled to any monetary compensation and or wat are my other options

Answer

Hello and thank you for your reaching out to us. While we would be more than happy to provide you with guidance to this matter, we need to find out more about your incident. Please feel free to give me a call at (410) 960-8656. Our advice is always free, with no strings attached.

Just a little bit about us.. We are proud to be rated by the Better Business Bureau (A+ rating!) as one of Maryland's leading personal injury lawyers. As a metropolitan-based law firm, Ingerman & Horwitz, LLP is able to offer our clients the following advantages:

- Direct referrals to medical specialists

- The financial strength to invest in your case

- State-of-the-art computer technology

- A knowledgeable and talented team of experts

To find out more, please visit our website at www.ihlaw.com.

Thank you again for your inquiry. I look forward to speaking with you soon!

Best,

Alan Horwitz