Holme v. Global Minerals and Metals Corp

In Holme v. Global Minerals and Metals Corp, (63 AD3d 417, 418, 879 N.Y.S.2d 453 [ 1st Dept 2009]), the plaintiff claimed that the shareholders of the judgment debtor caused it to cease doing business, stripping it of assets and leaving it a moribund shell to avoid payment to plaintiff; and that they continued to operate the business through other corporate entity defendants that the shareholders also dominated. This Department held that these "allegations of continuity, domination and fraudulent transfers, which are particularized with considerable detail" were sufficient to support causes of action seeking not only to impose liability on the successor corporation for de facto merger, but also to impose liability on the individual shareholders under an alter ego theory. (Id. at 418; Godwin Realty Assocs. v. CATV Enters., Inc., 275 AD2d 269, 712 N.Y.S.2d 39 [ 1st Dept 2000].)