Continental Insurance v. Schneider, Inc.

OPINION

Justice NIGRO.

We granted allowance of appeal in this secured transactions case to determine whether the Superior Court erred in finding that a successor business entity could be held liable on a theory of successor liability to a general creditor of its predecessor entity, even though the successor purchased the predecessor’s assets from the predecessor’s secured creditors at foreclosure sale pursuant to the Pennsylvania Uniform Commercial Code (the “UCC”). For the following reasons, we hold that the Superior Court did not err and therefore affirm.

From 1984 through 1990, Appellee…