McCarthy v. Litton Industries, Inc.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• observing that “the general rule is in favor of retroactive application of a change in decisional law” [quoting from Payton v. Abbott Labs, supra] and applying rule to tort claim
• key factors are is continued existence of seller corp. and continuity of directors, officers, and stockholders
• a second exception to general rule of non-liability of successor corporation for debts of predecessor is where purchasing successor expressly agrees to assume liabilities
• interpreting Turner as requiring dissolution of the predecessor corporation
• interpreting Turner as requiring dissolution of the predecessor corporation

Source: CourtListener parenthetical corpus (CC0).