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Can I sue an individual for breach of contract or unjust enrichment if the corp in which I invested is now bankrupt ?

I invested $50,000 in a corp. which was allegedly doing foreclosures. I had a contract and recently discovered that the corp had gone insolvent 1 1/2 years ago. I was never notified of the bankruptcy and found out inadvertently. To the best of my knowledge, the person did not declare individual bankruptcy. My intention is to prevent the individual from forming another corp. and becoming successful without satisfying my debt. Should I sue both the corp. and the individual even though the corp. has been dissolved ?

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Attorney answers (2)

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Reputation Level 14
The corporation is now dissolved -- your course of action is against the person who encouraged you to invest in the company. Whether or not you have merits to your case is something you should discuss with an experienced attorney in your area. There may or may not be fraud involved if the corporation was dissolved and they did not use your money for business purposes. My advice is to contact an experienced attorney and you may even wish to discuss the matter with the Attorney General of the State of Illinois.
1 person marked this answer as good

Reputation Level 18
I agree with Mr Linder that you should speak with an attorney regarding the best course of action, but recognize that if the person files bankruptcy your judgment, should you obtain one, will be worthless.

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