Pierce S Corp. Veil in Californ.

[Robwestcoast]

What is the name of your state (only U.S. law)? California

Is it that hard/expensive to collect from an S. Corp Debtor?

I gave a CPA 52K to buy his practice but the deal never went through. I got a judgement to collect my 52K but all efforts to garnish failled. The seller then sold the 190K practice to another CPA and has collected 150K. Now his S. Corp has filed Chapter 7 and the hearing date for creditors is Thurs. 9/18. My attorney says unlikely to show fraud and too expenxive to collect after bankruptcy.


Thank you,

Rob DeBree CPA
Mcenduro@aol.com
858-605-5893

 

[tranquility]

Either the accountancy corp has $202K or the accountant does as an individual. Did you get the judgment against the corp or the individual? If the corp, why? What were you buying?

 

[Robwestcoast]

Answer from Robwestcoast

To Tranquility;

I got the judgement and liens in name of S Corp per contract and 2 lawyers handled it that way.


I was buying 50% of his clients.

Now he resold to another CPA and claims remaining Corp with 487K of Revenues has no assets.