Legal Question in Business Law in Florida
Hi... I have an s-corp. The company has no assets, property... it just has a few $$$ in a bank account. We just lost a bogus judgment in small claims for $5K.
I want to incorporate a new business and take the few remaining dollars I have in the old one and put in the bank account of the new corporation.
My question is... can they find the money in the new company and seize the new company's bank account?
Asked on 4/15/10, 4:38 pm
1 Answer from Attorneys
David Labovitz
Labovitz Law Firm, P.A.
If you move the money into the new corp, they could potentially argue the new corp is merely an "alter ego" of the old corp. In that case, they might be able to get at the assets of the new corp.
Answered on 4/20/10, 6:14 pm
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