Corporate
Feb. 26, 2013
Foreign corporations get better deal upon dissolution
At the end of the day Greb is unfavorable to California corporations, which can be sued without time constraint after dissolution, unlike corporations formed under the laws of another jurisdiction. By Dan Jacobson
Commonly, it is thought that the dissolution of a corporation is akin to the death of a human being. That thought is a mistake. "Under [California's] statutory scheme, the effect of dissolution is not so much a change in the corporation's status as a change in its permitted scope of activity.... Thus, a corporation's dissolution is best understood not as its death, but merely as its retirement from active business." Greb v...
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