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LawyerDavid, Attorney
Category: Bankruptcy Law
Satisfied Customers: 372
Experience:  Highly experienced attorney Commercial Law, Litigation, Intellectual Property Law, and Family Law
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I have a limo transportation company and we were involved in

Customer Question

hello i have a limo transportation company and we were involved in an accident almost 2 years ago.. Our insurance company claims we did not have that particular vehicle covered and since rideshare companies have evolved we have taken a huge hit and are in financial trouble ... I have 2 questions...what is the statute of limitations for personal injury lawsuits and do we have to file bankruptcy if both companies are incorporated one in NV and One in CA. Our corp minutes are accurate so all lagit as far as corp laws.. I was told just shut it down and there is nothing to go after anyway is that lagit advice?
Submitted: 10 months ago.
Category: Bankruptcy Law
Expert:  LawyerDavid replied 10 months ago.

Roger: Nevada has a two year statue of limitations, which is calculated from the day of the accident. The company that would be sued is the company that owns the vehicle involved in the accident. I didn't understand the legal connection you are making with both companies unless possibly both companies are on the title to the vehicle involved. If you bankrupt the company and wind it down there will be nothing to go after and it would be very unlikely they would sue. You would list this claimant within the bankruptcy filing and then they will give a certain period of time to file the claim on the personal injury in the bankruptcy matter. If they miss the deadline the company is wound down and everyone moves on. I hope this helps, David