§ 12:255 — Claims against corporation in liquidation; peremption

Louisiana § 12:255

• Jurisdiction: Louisiana
• Title 12: Conservation of Cultural Resources

Text

§255. Claims against corporation in liquidation; peremption
A. A corporation in liquidation may have the benefit of Subsections C,
D, and E of this Section by following the procedure set forth in Subsection B
of this Section.
B. After the proceeding for dissolution has taken effect, notice thereof
shall be (1) given by registered or certified mail to all known creditors of, to
all persons believed to have valid and subsisting claims (excluding prescribed
and time-barred claims) against, and to all persons having unfulfilled contracts
with, the corporation, and (2) published once a week for two successive weeks
in a newspaper of general circulation in the parish in which the corporation's
registered office is located. Such notice shall call on the addressees to present
their claims in writing and in detail, at a specified place and by a specified
date, not less than six months after the notice was mailed. The giving and
publication of such notice shall not be deemed an acknowledgment of the
validity of any claim against the corporation, waiver of any defense or setoff
to any such claim, interruption of prescription on, or tolling of any statute of
limitation applicable to, such claim, or revival of any claim which has been
barred by any prescription, peremption, or statute of limitations.
C. If any addressee of such notice shall not present his claim or claims
as prescribed in the notice, such of his claims as would be enforceable against
the corporation except for the provisions of this Subsection shall, unless suit
has been entered thereon in a court of competent jurisdiction before the final
date prescribed for presentment thereof, be perpetually and peremptorily
barred, except to the extent, if any, that the court may allow them against any
remaining undistributed assets of the corporation on a finding that the claimant
had some valid excuse for his failure so to present his claim.
D. All claims which would be enforceable by suit against the
corporation except for the provisions of this Subsection, on which suit has not
been filed in a court of competent jurisdiction before the expiration of three
years after the proceeding for dissolution takes effect (or, if the notice
prescribed in Subsection B of this Section was not given and publication
thereof commenced within one month after the proceeding takes effect, before
the expiration of three years after the giving or completion of publication of
the notice, whichever is later), shall be barred perpetually and peremptorily.
E. The time limits provided in Subsections C and D of this Section
shall not be subject to suspension on any ground, or to interruption except by
timely presentation of the claim as to Subsection C of this Section or timely
suit as to Subsection E of this Section.
F. The provisions of Subsections C and D of this Section shall not
preclude the enforcement at any time, without regard to whether a claim has
been presented or a suit filed timely as prescribed in said Subsections, of any
valid and subsisting lien securing any claim against, or indebtedness of, the
corporation.

Legislative History

Acts 1968, No. 105, §1.