0

My Georgia corporation, which has been dissolved, broke a Georgia commercial lease. Are my other corporations I am an organizer of subject to any judgment liens? Or, are only my personal assets subject?

flag

1 Answer

0

Hi Gerald, thanks for your question. It's tough to give you advice without more facts but here is what I think based on a general understanding (I think the right way to approach this is to do a little more research and then go in for a free consultation with a Georgia attorney). A court would probably take into account some of the following factors: did you observe the right corporate formalities with your other corporations? (see my answer on piercing the veil). Essentially the judgment lien can be viewed as like a creditor of your old corporation, which you noted is now defunct. Since the other corporate entities you are a shareholder/owner of are legally distinct, technically they wouldn't be liable for the debts of your former corporation unless a court found that your old corporation was really more like your alter-ego as well, and pierce the veil and attempt to collect on your personal assets. If it finds that the assets of the other corporations are also essentially your personal assets it could go after those as well. I would guess that as long as you kept the other corporations legally distinct from your personal assets those other corporations shouldn't be liable for the judgment lien against your defunct corporation. Feel free to send follow up questions and I will try to link you to more open followup research before you go in and talk to a local attorney.

link|flag

Your Answer

Not the answer you're looking for? Browse other questions tagged or ask your own question.