Legal Question in Consumer Law in California

Major Corporate Shareholder

I am a major shareholder in a firm that has gone out of business. The company still has outstanding receivables but has been unable to collect them due to the fact that the company lost its corporate standing with the state and has no means to hire an attorney. As a stockholder can I sue both the corporation and the companies who still owe monies to the firm I have shares in?


Asked on 6/12/04, 12:12 am

1 Answer from Attorneys
Christopher M. Brainard, Esq. C. M. Brainard & Associates - (310) 266-4115

Re: Major Corporate Shareholder

I would have to do some research to be sure, but I believe you will "act" as last creditor of the company. So through some code you can act through subrogation to get those receivables, I think, as long as all other senior creditor claims are satisfied. You may contact me. Are your share holdings substantial?

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Answered on 6/12/04, 12:28 pm


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