Legal Question in Business Law in Texas
Had a corporation in Texas, IRS had a lien against it. We sold and auctioned off all assets to pay them off, then dissolved the corporation. We still have outstanding bills, credit cards, phone book, etc. Are we still liable for these?
Asked on 7/07/10, 10:07 am
1 Answer from Attorneys
Kevin B. Murphy
Franchise Foundations, APC
Any attorney will say the corporation is liable for unpaid debts, absent any personal guarantees from you or others. Since the corporation is dissolved, the creditors have little recourse. Consult with an attorney in your area for specifics.
Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise
Franchise Attorney
Answered on 7/07/10, 5:04 pm
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