When one corporation purchases the assets of another corporation, the general rule is that the purchasing company is not liable for the debts of the selling company. Because of this, sometimes creditors may come across a scenario where a commercial debtor appears to be out of business, and a new company pops up at the same address—only with the same ownership, management, employees, and industry as the debtor company.
Bernstein-Burkley’s Litigation team is equipped to handle legal scenarios like this one, as the attorneys are skilled in maneuvering through exceptions to this rule, including when a seller enters into a fraudulent transaction in order to escape liability (also known as a fraudulent transfer action).
Contact our team at Bernstein-Burkley today at 412-456-8100 to see how we can assist you in Litigation services.