1

If a corporation in Florida owes a business money, but the the debtor entity is now dissolved, what collections avenues are available to the creditor?

Furthermore, can the creditor pursue the principals of the business?

If the principals of said entity opened another corporation, can the creditor pursue the newly opened corporation?

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1

If a corporation in Florida owes a business money, but the the debtor entity is now dissolved, what collections avenues are available to the debtee?

None (assuming it has been wound up legally)

Furthermore, can the debtee pursue the principals of the business?

No

If the principals of said entity opened another corporation, can the debtee pursue the newly opened corporation?

No

This is in fact the point of corporations.

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  • From what I understand, Florida will not let you dissolve a corporation if it has outstanding debts. But how does the state know? – user3527354 Jul 2 '17 at 1:22
  • For example, in this article jimersoncobb.com/blog/2015/02/… it seems that you cant dissolve the corp without proper notification to the creditors, otherwise your liability extends past the dissolution – user3527354 Jul 2 '17 at 1:39
  • The second two answers are basically correct, the first is wrong. Dissolution of a corporation does not divest it of any of its assets. If it has assets those can be subject to judgment liens, garnishment and writs of execution. There are exceptions to the second two answers but those answers are the general rules. – ohwilleke Jul 3 '17 at 23:15
  • @ohwilleke I was assuming it had been wound up in accordance with the law – Dale M♦ Jul 3 '17 at 23:51
  • @DaleM It wouldn't be usual for a company to distribute all of its assets years in a winding up years after it was dissolved, and often even then people are sloppy about the IP rights which can be taken and then enforced against new companies which use that IP. – ohwilleke Jul 3 '17 at 23:55

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