Legal Question in Business Law in Florida
Corporation moving assets to anouther corporation
I hired a corp. to repair water damaged wood floors. They replaced the wood on a wet subfloor. Floors are ruined. The corp. has incorp. another to move assets from the original to new so that once we get a judgement nothing will be there to get. Is there anything I can do?? Help
2 Answers from Attorneys
Re: Corporation moving assets to anouther corporation
It depends on all the facts and circumstances. It
is possible to legally move assets from one
corporation to another. However, if no consideration
was given and the intent was to defraud creditors,
then you could make a claim for fraudulent
transfer. This is definitely an area where
you should seek the advice of an attorney.
Re: Corporation moving assets to anouther corporation
Depending on all the pertinent facts, Florida's Fraudulent Transfers statutes may be used to go after the assets. You need to seek the advice of qualified counsel. This is not the type of case where you can represent yourself in small claims court. Good luck.
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