April 15, 2014
- 101 Corporations and Business Organizations
- 101XII Dissolution and Forfeiture of Franchise
- 101XII(C) Operation and Effect of Dissolution or Forfeiture in General
- 101k3082 Effect of Dissolution in General
- 101k3087 k. Effect on Pending Proceedings.
Persons in charge of assets of defunct corporation may place on record suggestion of its death, stay progress of suit against it, and even vacate process, but corporation, having answered complaint, cannot allege its death as defense.
Fred S. James & Co. v. Second Russian Ins. Co., 146 N.E. 369 (Ct. Ap. N.Y. 1925)
Suggested by Allan Marain, Counsellor at Law; Law Offices of Allan Marain; New Brunswick, N.J.