QUESTION

Company went out of business after I filed suit. Can I still move forward with it?

Asked on Nov 19th, 2014 on Breach of Contract - Maryland
More details to this question:
I filed suit this summer, but since the agent (who is also owner) was ducking service, I was not able to serve them until the now. They dissolved their business last month. My question is, can I still move forward with this suit, even though the company no longer officially exists?
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1 ANSWER

Real Property Attorney serving Bethesda, MD at The Morris Law Firm, LLC
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Yes, you can, though the type of entity the dissolved business is may have an impact on how you proceed.  For example, a dissolved LLC may defend suits brought against the LLC and the members of a dissolved LLC become trustees of the LLC's assets for purposes of any debt or claim against the LLC.  The law is similar, though not exactly the same, for corporations.  You should make sure you are proceeding against the proper parties. Of course, that does leave the question of whether, if it is out of business, the company or the owner have any money to satisfy a judgment even if you were to prevail.  You will have to, at a minimum, determine what assets the company had before it dissolved and what happened to those assets when it did.   An experience business attorney may be able to assist with these issues, which can be a bit complicated.        
Answered on Nov 19th, 2014 at 1:07 PM

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