Legal Question in Business Law in New York
Business name change to avoid seizure
If I change the name of my business and dissolve the old corporation, will I be protected against seizure of assets as a result of any judgements?
Asked on 1/10/05, 10:40 pm
1 Answer from Attorneys
Re: Business name change to avoid seizure
No. The fraudulent conveyance act was designed to prevent such a tactic. If your company is insolvent (ie. unable to pay its debts) you may wish to consider filing bankruptcy.
Answered on 1/11/05, 9:49 am
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