Legal Question in Real Estate Law in Maryland
Trying to collect money owed...
My architecture company was doing work for a developer for three of their projects. Each project had a seperate entity listed as owner. The parent company closed shop and lost all three properties to the mezzanine lender. The parent company changed names and is still in business. Do we have any way of claiming any of the past due monies owed to us?
1 Answer from Attorneys
Re: Trying to collect money owed...
If your services agreement was with the parent company alone and the individuals running it didn't provide personal guarantees or contract with you personally, you may be out of luck. However, if you can establish that the current operation with the new name is essentially identical to the old company and that it acquired the old company's assets, you may have a claim against the individuals on the basis of a fraudulent conveyance of assets.
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