Posted in News & Articles on October 17, 2013
In the matter of R.S. Silver Enterprises Co., vs. Pascarella, Attorney Nugent, on behalf of the Plaintiff, successfully argued that a corporation, although administratively dissolved, retains its corporate existence for the purpose of prosecuting a law suit. The Court further held that when a corporation reinstates, the corporate reinstatement is effective as of the date of the dissolution, and the corporation resumes carrying on its business as if the administrative dissolution never occurred. The Defendants, in their motion to dismiss, claimed that since the Plaintiff-corporation was dissolved at the time the claim arose, the court lacked subject matter jurisdiction to hear the case. The law suit seeks over 1 million dollars in damages from the Defendants for their wrongfully failing to recognize the Plaintiff as a partner in a real estate venture.