BIGDADDY11573
New Member
I Own A Corporation That Provided Title Searches To Title Companies In Michigan. With All The Title Companies That Have Gone Out Of Business I Was Left Holding The Bag On About 100,000 Dollars That Was Not Paid To Me And Of Course I Couldn't Pay Anyone Else. Thus My Business Was Getting A Bad Name And I Was Having Trouble Getting New Customers. I Decided To Start A New Corporation With A Differnet Name And Start Over Again In The Same Business. I Have Yet To Decide Weather This Is Working For Me Or Not. The Real Problem Is With The First Corporation. I Received A Call From An Attorney Representing An Owner Of A Title Company That Had Gone Out Of Business Last Year. We Completed A Search For Them Back In Sept 2004 And Jan 2005 That Was Less Than Perfect. I Guess The Underwriter Settled For Roughly 500,000 DOLLARS And Now The Underwriter Wants To Sue The Owner Of The Title Company. In Turn He Wants To Sue Me Personally And Sue My New Corporation Because As He Says It Is The Same Kind Of Business And I Am Still Doing Business With My Old Clients Under The New Name. Now I Am Very Concerned. First I Know The Corporation Should Protect Me Personally, But I Am Still Concerned. Has The Statute Of Limitations Run Out On This? How Do I Further Protect My Family And Assets. Is There Anything I Can Do Before A Suit Is Brought Against Me To Protect Our Stuff. Help!
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