Legal Question in Business Law in Virginia

purchase of corporation which was terminated prviously without my knowledge

what should i do if i bought a corporation that had previously been terminated? owner has spent money, his attorney is trying to get straightened out. meanwhile i am working and cannot even open a bank account until problem is resolved.i am paying for operation of bussiness out of pocket for now.


Asked on 7/15/08, 12:33 am

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

Re: purchase of corporation which was terminated prviously without my knowledge

That's why a lawyer should always be involved in the purchase of a business (if one was, you ought to take it up with him/her, and his/her malpractice insurer). It is usually not too hard to reinstate a Va. corporation -- you need to pay some fees and file forms with the state corporation commission. You should have a lawyer look over the whole situation at this point.

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Answered on 7/15/08, 8:06 am


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