Chancellor: Dissolved Company Not Subject To Suits 10 Years Later; No Receiver Necessary

Chancellor: Dissolved Company Not Subject To Suits 10 Years Later; No Receiver Necessary

WILMINGTON, Del. - A company's dissolution renders it immune from lawsuits filed more than 10 years later, erasing the value of remaining insurance policies for tort actions and making appointment of a receiver unnecessary, a Delaware chancellor held Feb. 4 (In the Matter of Krafft-Murphy Co. Inc., No. 6049-VCP, Del. Chanc.).

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