North Carolina Business Litigation Report

State ex rel. Cooper v. McClure, April 4, 2007 (Tennille)(unpublished)

Plaintiff sought an injunction preventing Defendant from selling its assets in North Carolina.  The Motion was filed pursuant to N.C. Gen. Stat. § 1-485, which permits an injunction when "the defendant threatens or is about to remove or dispose of his property, with intent to defraud the plaintiff." 

The Court denied the injunction, finding that it would be a detriment to the Defendant's ability to sell its assets, and might result in Defendant's operation being forced to close.  The Court required, however, that the Defendant give sixty days notice before the closing of a sale of all or substantially all of its assets.

Full Opinion

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Mack Sperling
Brooks Pierce, LLP
2000 Renaissance Plaza
230 North Elm Street
Greensboro, NC 27401

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Raleigh, NC 27601