Allied Industries International Inc., formerly known as World-wide Video; MSR, Inc., and Worldwide Auto Export, Inc., Plaintiff, v. AGFA-GEVAERT, Inc., a foreign corporation, Defendant, v. Michael Rubin, Diana Rubin, Cargill Boyd, and United Video International, Inc., Third Party Defendants, 688 F. Supp. 1516

Summary

A verdict was rendered in favor of the judgment creditor on its counterclaim for goods sold and delivered against the judgment debtor. The next day, the judgment debtor ceased operations. The successor corporation began its business in the same location using the same equipment and employees as the judgment debtor. The court held that it could find a new corporation liable for a judgment against its predecessor when the new corporation was merely the alter ego of the judgment debtor and that shares of the successor that was established to defraud a creditor were subject to execution. Finding the successor corporation to be an alter ego of the judgment debtor, the court held that it was liable for the judgment and that the stock was subject to execution to satisfy the judgment. Because Fla. Stat. ch. 56.29 allowed a judgment creditor to reach any property to which the judgment debtor transferred title within one year of service of process if the transferee was a person on confidential ...