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So the contract was made before company B was dissolved - is that correct?
Sorry, I meant before company A was dissolved.
Yes, the agreement was made before Company A was dissolved. No personal guarantee was given
Company B was also made aware that Company A was being dissolved, before the end of the two year tem
A company has continuing authority and power to wind up affairs after dissolution. Thus dissolution does not invalidate the contract. A is still responsible under the terms of the contract to pay off the loan to company B.
Great - thank you!
How can Company B get the loan from Company A, if Company A does not exist? Who does Company B get it from?
If A dissolved properly and paid creditors after liquidating assets and there is simply no money left, then unfortunately there may be no way for B to get anything from anyone despite that the contract was still valid. However, if A didn't dissolve properly and distributed assets to members of the company without paying creditors, then B can go after the members of A.
Thank you so much.
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