Riley v. Fitzgerald

Opinion

STONE, P. J.

Here we are asked to decide whether appellants, as sole shareholders of a dissolved Texas corporation and assignees of its assets, may prosecute an action asserting injuries to and fraud upon the corporation after the three-year postdissolution survival period provided by Texas law. We hold they may not and affirm the judgment.

*874James C. Riley, Jr., and James C. Riley III (Rileys), Texas residents, appeal from judgment on the pleadings based upon the trial court’s holding that Rileys’ causes of action are barred because, pursuant to Texas common law and article 7.12 of the…