Judgment upheld for Phoenix American Incorporated: JMBM achieved success in a two-week trial involving claims of successor-in-interest

JMBM represented Phoenix American Incorporated in a two-week trial obtaining a declaratory judgment that it was not the successor-in-interest to an acquired company and therefore was not liable for the company’s debts; successfully defended the cross-complaint that claimed the transfer of assets from the acquired company was a fraudulent transfer and that Phoenix American Incorporated and its affiliates were the alter egos of the acquired company. The judgment was subsequently upheld by the appellate court. Robert B. Kaplan and Joseph N. Demko represented Phoenix American Incorporated.