News & Analysis as of September 18, 2024

Statute of Limitations › Dissolution

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Statute of Limitations refers to a statute that sets the time period during which a legal claim can be brought. Most statute of limitations laws require individuals to sue at some point during a set period usually commencing from the date of the wrong or injury or the discovery of the wrong or injury. Except for under a limited set of circumstances, if an individual does not file a suit within the specified time period, the law bars them from ever suing on that claim. less -

Betting the Farm On An Oral Partnership Agreement

Farrell Fritz, P.C. on 7/12/2021

The Cummins Nursery in upstate New York grows, harvests, plants, and grafts fruit trees — mainly apple trees — which along with scions and rootstocks it sells by the tens of thousands each year. There’s also a farm stand and...more

Judicial Dissolution Proceeding against Donald J. Trump Foundation Withstands Dismissal Motion

Farrell Fritz, P.C. on 12/6/2018

The Donald J. Trump Foundation, a private foundation incorporated in 1987, was formed “exclusively for charitable, religious, scientific, literary or educational purposes”, and as stated in the Certificate of Incorporation,...more

Partnership Dissolution And A Chief Judge’s Lament

Allen Matkins on 5/15/2017

Decisions by U.S. District Court judges typically begin with an identification of the parties, an explanation of the procedural posture of the case, or a description of the dispute. Chief Judge Lawrence J. O’Neill, however,...more

Delaware Supreme Court Holds Receiver is Required to Defend Lawsuits After a Corporation is Wound-Up; Finds No Generally...

Sheppard Mullin Richter & Hampton LLP on 12/12/2013

In Anderson v Krafft-Murphy Co. Inc., 2013 Del. LEXIS 597 (Del. Nov. 26, 2013), the Delaware Supreme Court held that Sections 278 and 279 of the Delaware General Corporation Law, 8 Del. C. §§ 278-279, require a dissolved...more

Recovery From Dissolved Corporation's Liability Insurer Barred By Foreign Survival Statute

Hinshaw & Culbertson LLP on 2/27/2013

The recent case of Greb v. Diamond International Corp. highlights the need for dissolved corporations and their insurers to consider the survival statute of their state of incorporation when defending against actions brought...more

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