Legal Question in Credit and Debt Law in California
I have a judgment against a moving co. they are incorporated. they have since gone out of business. can i go after the owner?
3 Answers from Attorneys
There is a complicated procedure to get at the owners or shareholders or officers of a corporation called "piercing the corporate veil". Good luck.
Probably not since you already have the judgment and it is not against the owner. You would probably have to sue the owners directly in a separate suit and try to pierce the corporate veil. This is not easy and probably not worth the expense unless the amount owed is huge and it is a small company where the owner may have not followed the requirements to keep the finances separate.
I disagree that you have to separately sue the owner. A corporation that goes out of business does not cease to exist. It continues to exist until its affairs are wound up. If the company had assets that it sold off when it closed, or if after you filed suit assets were transferred out of the company, you can chase those assets. Most likely the owner drained the company after you filed suit. If so, you can pull those assets back into the company and have it remit them to you. Unfortunately that process is only somewhat simpler than what Mr. Marman and Mr. Carballo are talking about. But it is definitely faster and more direct.