QUESTION
Does company still have product liability if they are no longer in business?
Asked on Oct 26th, 2015 on Personal Injury - Michigan
More details to this question:
If a company has gone out of business and sold only their name to another company, are one of these companies still liable for faulty product that causes personal injury?
3 ANSWERS
Personal Injury — Plaintiff Attorney serving Taylor, MI
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Downriver Injury & Auto Law
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It depends on the assumption of liabilities of the successor Corporation. Each case is different.
Answered on Oct 30th, 2015 at 6:48 AM
Ronald A. Steinberg
It depends on the Statute of Limitations. If you are within the time period, you can sue the new company. You need to talk to a products liability attorney in your state.
Answered on Oct 30th, 2015 at 6:47 AM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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No easy answer, see an attorney. It is quite possible that the claim, even if good, may be noncollectable but, on the other hand, there may be successor liability.
Answered on Oct 30th, 2015 at 6:47 AM