Legal Question in Business Law in Indiana

dissolution of corporation

Friend had a very small home repair business which he

incorporated. Now he is divorced and done with the business.

Does he have to file dissolution of corporation

paperwork. If he doesn't what are the consequences or

liabilities.


Asked on 4/06/03, 7:25 pm

2 Answers from Attorneys
John Bator Bator Redman & Shive

Re: dissolution of corporation

He has two options-he can file a formal dissolution with the Indiana Secreatary of State, Corporations Division and the form is available online-www.in.gov.sos.org

If there are liabilties (debts) he can do nothing and simply deal with each creditor by explaing the corp os dead and has no assets-some may sue and he would be ordered to appear and answer under oath questions regarding the defunct corp; or he couls file a Ch 7 bankruptcy, which would also dissolve the corp

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Answered on 4/07/03, 11:51 am
Samuel Hasler Samuel Hasler

Re: dissolution of corporation

He can. That is the simplest way of dealing with a corporate dissolution. Quesiton would be why if he wants to continue the business. He can contact the Secetary of State online to get the form.

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Answered on 4/06/03, 10:12 pm


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