Do you know of any cases in New jersey that i can use (site) where individuals were permitted to file a complaint as individuals, former business owne
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Do you know of any cases in New jersey that i can use (site) where individuals were permitted to file a complaint as individuals, former business owne
Do you know of any cases in New jersey that i can use (site) where individuals were permitted to file a complaint as individuals, former business owners (officers and Shareholders), keeping in mind that the business/corp has filed chapter 7 and is now defunct and no longer in business. The reason that the business/corp went out of business is becuase of an error that was made by an insurance company. The insurance company failed to show verification of coverage to the business/corp’s client thereby causing the client to terminate the contract with the business/corp which is a breach of their contract with the business/corp. So, the former owners/shareholders of the business/corp would like to seek relief. I need to site a case that would allow this action……
Asked on June 15, 2009 under Business Law, New Jersey
Answers:
B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
I doubt that you can do anything about the situation, at this point. The claim, if there was one, was the property of the corporation, and part of the process in any bankruptcy included putting together all of the corporation's property, including a "contingent claim" like the accusation you're making against the insurance company. The corporation, its business, any claims that it had, and any interest that any of the stockholders had in any of that, disappeared for good once the bankruptcy was final.
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