Legal Question in Business Law in Minnesota

corporate dissolution

Can a Sub-S corporation with more

liabilities than assets dissolve the

corporation without first going

bankrupt?

Thank you


Asked on 4/09/07, 9:20 am

1 Answer from Attorneys
David Anderson Anderson Business Law LLC

Re: corporate dissolution

In many cases, there is no need to formally commence or execute dissolution under the statutory procedure.

I would want to review your situation to advise, but unless :

1) There are valuable assets to protect of

2) YOu have personally guaranteed debts of the Sub-S Corp, there may be no necessity to go through dissolution OR file BKY.

Call or email for further assistance.

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Answered on 4/09/07, 10:02 am


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