Acme Co. Inc. is being sued by Person A. Person A wins the lawsuit and is awarded a reasonable amount of money. If the company goes out of business before it has paid Person A, can Person A still get their monetary award? If not, is there any recourse for Person A? Do corporations have to remain "alive" on the books with money in reserve until all judgments against them are cleared?
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I hear that, kj force! Already learned that lesson myself. I just wasn't sure what would happen if the company ceased to exist entirely--not just claimed bankruptcy. If everyone left, no phones or addresses or websites... Then what?
As far as I was lead to believe , even if it is NOT a bankruptcy pretty much SOL. a Clinical Group closed their doors, without notice and the patients can't even get their medical records and it's been over 2 years.