Airflow Houston, Inc. v. Theriot

In Airflow Houston, Inc. v. Theriot, 849 S.W.2d 928, 933 (Tex. App.--Houston 1st Dist. 1993, no writ), a creditor of two liquidated companies sued a newly formed corporation for fraudulent transfer of intangible assets and good will. Airflow Houston, 849 S.W.2d at 930-31. The court found that the evidence of use of the liquidated companies' same phone number, logo, and client phone numbers by the newly formed company was sufficient proof of transfer of good will. Id. at 930. The court held that those transfers to the newly formed company, "constituting the essential business assets," established proof of a fraudulent transfer under TUFTA. Id. at 933. The court affirmed the trial court's determination that the new corporation, Airflow Houston, Inc., was responsible for the debts of the two liquidated companies, and upheld as proper under TUFTA the trial court's award of the full amount under the promissory note. Id. at 930, 934.