Article Archives >> Lead Stories >> December 1-31, 2009
Preview of Article:
Merger of Nonprofit into Other
Does Not Constitute “Closing”
Court denies constructive trust to hold property
to go to Township upon closing of ambulance company
The merger of one local nonprofit ambulance company into another does not constitute a “closing” of the merged company that requires the company to transfer its station to the Township in which it is located, according to two courts in Pennsylvania. But a trial court’s order creating a constructive trust to hold the property for the benefit of the Township has been reversed by the state’s Commonwealth Court.
Article Archives >> Lead Stories >> December 1-31, 2009
