Legal Question in Business Law in New York

dissolve corp

Please help me I have a few question regarding my corporation.

I am planning to close my business next due to not enough income or traffic in the area. There are a few places where we have open invoices with them and I cannot close them at this time. And if one of those vendors decides to sue my corporation or business would that interfere with me dissolving my corporation or due to that suit I have to remain in business until that matter is resolved.

Please respond at your earliest convience. Thanking you in advance for all your advise.

Thank you. Samia


Asked on 7/26/06, 9:24 pm

1 Answer from Attorneys
Nancy Delain Delain Law Office, PLLC

Re: dissolve corp

Paying the debts of the business is part of the winding up process of the business's affairs, and it must be done before the business can die gracefully.

THE INFORMATION PRESENTED HERE IS GENERAL IN NATURE AND IS NOT INTENDED, NOR SHOULD IT BE CONSTRUED, AS LEGAL ADVICE. FOR SPECIFIC ADVICE ABOUT YOUR PARTICULAR SITUATION, CONSULT YOUR ATTORNEY.

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Answered on 7/27/06, 12:30 am


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