Legal Question in Business Law in California

When a business closes and owes money to my small company, how do I pursue getting paid? They aren't in bankruptcy - although I previously thought they were..


Asked on 8/24/09, 9:24 pm

3 Answers from Attorneys

Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Pretty much the same way you collect from a business that hasn't closed. Closing doesn't affect the liability -- it merely makes those who are liable harder to reach. Closing may, however, give a creditor additional ammunition. For example, if it were a corporation and is liquidating without provision for creditors, in addition to a right to sue the corporation on the original debt, you may now have a claim against the corporate insiders personally for taking illegal distributions before satisfying creditor claims.

Read more
Answered on 8/25/09, 12:32 am
Terry A. Nelson Nelson & Lawless

You sue and hope for the best, for judgment and for collection. Serving them will be a problem, do so on the 'agent for service' listed.

Read more
Answered on 8/25/09, 2:59 pm
OCEAN BEACH ASSOCIATES OCEAN BEACH ASSOCIATES

Contact me directly for assistance in collections.

Read more
Answered on 8/28/09, 3:53 pm


Related Questions & Answers

More Business Law questions and answers in California