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New York Business Divorce

Commentary on Dissolution and Other Disputes Among Co-Owners of Closely Held Business Entities

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“Informal Dissolution” and Individual Liability

Photo of Franklin C. McRoberts
By Franklin C. McRoberts on March 8, 2021
Posted in Corporate Governance

In this week’s New York Business Divorce, read about the unhappy consequences under the “informal dissolution” doctrine to befall a corporate director who effectuated the liquidation of a defunct corporation’s assets without providing statutory notice of dissolution to the entity’s creditors.
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