Legal Question in Civil Litigation in Florida
Can a corporation change its identity by becoming an LLC to avoid litigation, or vice versa?
Asked on 4/22/12, 4:38 pm
2 Answers from Attorneys
David Slater
David P. Slater, Esq.
It can dissolve and a new company can be formed.
Answered on 4/23/12, 9:05 am
Philip Duvalsaint
Philip A. Duvalsaint, PLLC
Even if the company dissolves, if assets are passed from one entity to the other, (as well as in certain other circumstances) it would be possible for someone to "pierce the corporate veil" or use a similar litigation strategy to pursue the shareholders and or directors. Cases like these are fact intensive and so it is impossible to state with any kind of certainty what you can and can't do without knowing all the relevant facts. You should consult with an attorney immediately to determine the best course of action for you.
Answered on 4/23/12, 11:56 am