Vanderbilt Law Review Volume 31 Issue 6 Issue 6 - November 1978 Article 1 11-1978 Post-Dissolution Liabilities of Shareholders and Directors for Claims Against Dissolved Corporations D. Gilbert Friedlander P. Anthony Lannie Follow this and additional works at: https://scholarship.law.vanderbilt.edu/vlr Part of the Business Organizations Law Commons, and the Commercial Law Commons Recommended Citation D. Gilbert Friedlander and P. Anthony Lannie, Post-Dissolution Liabilities of Shareholders and Directors for Claims Against Dissolved Corporations, 31 Vanderbilt Law Review 1363 (1978) Available at: https://scholarship.law.vanderbilt.edu/vlr/vol31/iss6/1 This Article is brought to you for free and open access by Scholarship@Vanderbilt Law. It has been accepted for inclusion in Vanderbilt Law Review by an authorized editor of Scholarship@Vanderbilt Law. For more information, please contact
[email protected]. Post-Dissolution Liabilities of Shareholders and Directors for Claims Against Dissolved Corporations D. Gilbert Friedlander*and P. Anthony Lannie** TABLE OF CONTENTS I. INTRODUCTION . ................................. 1364 II. BACKGROUND: SECTION 105 AND THE TRUST FUND T H EORY ....................................... 1366 III. EXCLUSIVENESS OF SECTION 105 ................... 1370 A. Does Section 105 ProhibitPost-Dissolution Claims? ................................... 1370 (1) Post-Dissolution Claims Allowed Any Time: A Statutory Interpretation .............. 1371 (2) No Post-Dissolution Claims Are Allowed: A Statutory Interpretation ................ 1375 (3) Post-Dissolution Claims Allowed During the Two-Year Survival Period But Not There- after: The Statutory Language Ignored ... 1376 (4) Post-Dissolution Claims Allowed Against Former Shareholders and Directors, But Not Against Dissolved Corporations: The Statute's Bar Held Inapplicable to Certain Types of Cases ......................... 1376 B. Does Section 105 ProhibitTrust Fund Actions Brought After the Survival PeriodExpires? ...