QUESTION

What are the creditor’s rights after liquidation?

Asked on Jun 20th, 2016 on Bankruptcy - California
More details to this question:
Assume a company is dissolved or liquidated. After this has formally happened, a creditor appears who was not known at the time of dissolution/liquidation claiming to be owed money by the now defunct company. Can they make a claim against anyone like the former directors/owners or liquidators, or do they just have to write it off? It's a purely theoretical question that I was just wondering about, so I'm making the assumption that the creditor definitely has a valid claim against the company but that it has no guarantees with anyone other than the company i.e. no personal guarantees from the directors that they'd be paid.
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1 ANSWER

If the dissolution is completed they are out of luck. They could, in theory make a claim based on the negligence of people acting in their capacities within the business, but I think the chances of success would be slim.
Answered on Jul 21st, 2016 at 12:05 PM

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